REGISTERED COMPANY NUMBER: 05688674 (England and Wales) REGISTERED CHARITY NUMBER: 1114859 Report of the Trustegs and Flnancial Statements for the Year Ended 31st March 2025 for Age UK Worcestsr, Malvern Hills & Hereford Localities Trading as Age UK Wvem Richards Sandy Audit SeNices Limitad (statutory Auditor) Thorneloe House 25 Barbourne Road IN0rster Vfft1 1RU
Age UK Worcester, Malvern Hllls & Hereford Localities Trading as Age UK Wyvern Contents of the Financial Ststements for the Year Ended 31st March 2025 Page Referen¢a and Administrative Details Chairs of the Board of Trustees Report of the Trustees Report of the Independent Auditors 8 to 10 Statement of Flnancial Activities Balance Sheet 12 Cash Flow Statement 13 Notes to the Cash Flow Statement 14 Notes to the Financlal Statements 15 to 29 Detalled Statement of Flnanclal Actlvities 30 to 31
Age UK Worcester, Malvern Hills & Hereford Localities Trading as Age UKWyvern Reference and AdmInistive Detalls for the Year Ended 31st March 2025 TRUSTEES S Bartholomew A Buttanshaw C Clifford (Co-chair) D Kitcat J Marki6WICX J McKenzie H Shetwood (Co-chair) J P Hilditch {resigned 23.10.24) D Wheattey (resigned 16.9.24) MANAGEMENT TEA C Thomas M Moyles K Hepton J Henderson Chief Executive Head of Resources Human Resou[S Manager Director of Servi COMPANY SECRETARY C Thomas REGISTERED OFFICE Bank House 7 Shaw Street Worcester Worcestershire WR13QQ REGISTERED COMPANY NUMBER 05688674 (England and Wales) REGISTERED CHARITY NUMBER 1114859 INDEPENDENT AUDITORS Richards Sandy Audit Services Limited {Statutory Auditor) Thorneloe House 25 Bartjourne Road WOrSter WR1 1RU SOLICITORS SME 8 Sansome Walk Worcester WR1 1LW BANKERS CAF Bank Limited 25 Kings Hill Avenue West Malling Kent ME19 4JQ Page 1
Age UK Worcesler, Malvern Hllls & Hereford Localities Trading as Age UK Wyvorn Chairs of the Board of Trustees for the Year Ended 31st Mah 2025 Welcome to the Annual Report of Age UK Worster. Malvem Hills and Hereford Loralities. During the period covered by these accounts we took the necessary steps to fonnally adopt the trading tide of Age UK Vwvem. This name was chosen based on the rive Sevem and We and the area to which we now offer Servi5. This iTicludes informatioN and advi given to Ihe older members of our communib'es throughokjt South wOrster and Herefordshire. This report presents details of thè many seNiCaS and support we provide to help older people maintain their independen and enjoyment of life as they age. In October 2024 we became aware of the imminent closure of Age UK Herefordshire & Worcestershire and the potential loss of some vital SeNiS for older clients. Immediate measures were taken by our CEO, the Senior Management Team and the Trustee Boaré to take on some of these seN1$ together wlh the staff working within them. This was achieved smoothly in a very short time due to the hard woth and determination of our CEO and Senior Management Team. As noted elsewhere in the Trustees, Report, this expanded our area ofwork in, for example, Dementia senrices. We welcomed new staff who added to the expertise and experience of our staff téam and enhanced our wider serwce provision. On behalf ofthe Trustees, we commend our CEO, Clare Thomas, our Senior Management Team and all our stsff fortheir hard work and commitment and acknowledge their many achievements and the progress made in the past year. We also thank the many dedicated volunteers who give their time to all our activities, we could not do all we do without you. Together our st8ff and volunteers continue to strive to ensure our older generab.on enjoy their later life. We both wish to extend our thanks lo our fellow trustees for their support and commitrnenl this year. Collette Clifford Hazel Shewood. Co-chairs of Age UK Wyvem Page 2
Age UK Worcester, Malvern Hills & Hereford Localities Tradlng as Age UK Wyvern Report of the Trustaes for the Year Ended 31 st March 2025 The Irustees who are also directors of the charily for the purposes of the Companies Act 2006, present thèir report with the financial statements of the charity for the year ended 31st March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their acwunts in accordance with the Financial Reporting Standard applicable in the UK and Républic of Ireland {FRS 1021 (effective q January 2019). OBJECTIVES AND ACTIVITIES Objects The objects 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 povety of older people- Advancing education., Preventinglrelieving sickness or suffering in older people- Promoting equality and diversity., Promoting the human rights of older people in accordance with the Universal Declaration of Human Rights". Assisting older people in need by reason of ill-health, social exhaustion. or other disadvantage.. Such other charitable pUoseS for the benefit of older people as the charity trustees from time to time decide- Mission To make a positive difference to the lives of older people by providing services that help maintain their self-respect, dignity and independence. providing support as needed to enhance their quality of everyday life. Valuos We approach our WO with older people in a spirit of respect that aims to maintain dignity and independence in everyday We are a listening organisalion that seeks to identify Ihe needs of those in our community, and we are open to collaboralive working to ensure the best support is offered to our clients. Our staff and volunteers are key to the delivery of seNices, and we endeavour to ensuré that they are treated equitsbly and faidy and supported in the work that they do to meet our objectives. Significant activities Our merger on January 1st 2024, to create Age UK Worster, Malvem Hills & Hereford and localibes was followed in October 2024 by us welcoming colleagues from Age UK Herefordshire and Worcestershire. This has enabled us to expand our area of operation into Wchavon District and to novate two significant contracts one which supports those wilh a diagnosis of dementia, and the other to support patients when discharged from hospital. These, as well as our other servi delivery, fall under the 4 pillars of support as defined in our strategic plan thriving at home," positive wellbeing-, being connected- and resilience in challenging times. THRIVING AT HOME Older people tell us that maintaining their Independen and continuing to thrive at home is very important to them as they grow older. By delivering services such as our Home from Hospital, Help at Home, Footcare. Home Energy Checks and Befriending, we have ensured that older people wll remain Iwing independently for longer and be less likely to need to go into hospital or care. POSITIVE WELLBEING Older people tell us that having positive physical and mental health, benefits both them and also soc4ety by maintaining older people's Independen and soaal economic contributions and improving quality of life. By delivering a whole range of wellbeing projects such as Being Well, Ticket to Ride. and Dementia Wellbeing Seavices - we have helped to ensure that older people will remain healthy, active and independent for as long as possible. BEING CONNECTED Older people tell us that maintaining connections is central to their wellbeing and health. By delivering services such as Connect clubs, Sheds Together, and Digital indusion, older people feel less isolated and hava opportunities to be connected with others in their community. Page 3
Age UK Worcester, Malvern Hills & Hereford Localities Trading as Age UK Wyvern Report of the Trustees for the Year Ended 31st March 2025 RESILIENCE IN CHALLENGING TIMES Older people tell us that later life can bring specific challenges such as poor financ8, ill health, relationship breakdown or bereavement, making it harder lor tham to stay strong and deal with their situation with the consequent negativa impact for them and for their communities. We have therefore delivered infomiation and advice and helped clients to access benefits.. we have managed and distributed household support fijnd income.. supported people through major health challenges such as dementia and supported through times of poor mental health and grief. As a result, older people have felt supported and are better able to deal with challenges in their lives and better able to make informed decisions. SUPPORTING STRATEGIES AND ACTIONS In order to deliver our objectives, mission and core service areas we have developed and delivered the following plans.. Income generation and partnerships - we have developed posilive relationships with funders, corporate partners and individual donors to diversify income streams and develop lasting relationships and long-temi growkh. We have invested in our charity retail shops, paid for services and unrestricted income in order to sustain and develop services. We have ensured that our financial policies and procedures, dats collection and donor management support our incame generation. Communication and Marketing- we have made people more aware ofour brand, provided darity of ouroffer, and promoted our sepdices. Following the January merger and welcome of our new colleagues from Age UK Herefordshire and Worcestershire, we took the opportunity to consult on and implement a trading name for the Charity- Age UK Wyvern - which reflected our new area of operation. This enabled us to re-brand and launch a marketing campaign. Volunteers our work could not happen wthout the incredible support of our volunteers. We have invested in recruiting and supporting them 2nd recognising their enormous contiibulion - they curonlly number around 400. If each of them gives just an hour of their time each week - many give much more this saves thè charity over £430,000 a year. Leaming and development- we have invested in individual. team and organisab'onal learning, to drive improvemenl and support the health and wellbeing of staff and volunteers. Buildings, facilities and systems - our plan aims to ensure that we have the right buildings, facilities and systems to support the work of the organisation. We aim to manage estates to ensu that buildings are fit for purpose. We aim to ensure that IT platforms, resouThs 2nd training enable us to wotk efficiently and effectively and enable us to demonstrate impact. We aim to ensure that we commit to strategies and practice lo reduce our environmentsl impact. Key External Relatlonshlps The organisation is an independent NebMort< Partner of Age UK and abides by its network agreement.11 also works with a broad range of partners across the region including Citizens Advi and offter voluntary agencies.. Worcestershire County Council. Worcester City Council, Malvern Hills District Council., Wchavon District Council, Horeford5hire Council, the Integrated Care Board and NHS partners. It also works closety with other Age UK Nelwork P8rtners across the region. West Midlands regional neorkIng meetings and events are attended, where good practice ideas are shared. OUR THANKS To all our volunteers without whom we could not provide the seNices nor generate the funds To the people ofworcester, Malvem Hills. Wychavon and Herefordshire who support us in so many ways To our Trustees who give so freely of their precious lime and knovAedge To all our Funders and Donors who have given so generously Page 4
Age UK Worcester, Malvern Hllls & Hereford Loealltles Trading as Age UK Wyvern Report of the Trustees for the Year Ended 31st March 2025 ACHIEVEMENTS AND PERFORMANCE 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 publi )ilst 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 direcdy 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 nolhing relating specifically to fundraising practiS nor directFy solicit Indidual members ot the public for donations, it has neither any formal complaints procedure speafic to soliciting of donatt.ons {although details of its general cornplaints 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 Finan¢ial position When comparing the perfomiance of the Charity to the previous year, it should be noted that changes have taken pla. On 31st Dec£mber 2023. the Charity mgrged with Age UK Hereford and Localities I"H&L") and therefore the comparative results for the first nine months of the year to 31st March 2024 related only to Age UK Worcester and Malvem Hills. 2 In November 2024, following the closure of Age UK Herefordshire and Worcestershire, certain of their seNices and staff were transferred into this Charity Total income forthe yearwas £2.75 million {2024 £2.07 million), an increase of £681k. Not8 that Ihe previous yeaes income included £264k fair value of assets transferred from Hereford and Localities. Relail shop sales increased by £222k lo £1,076k, 8 26 /0 increase, partly through organic growth but also through the opening of new shops {H&L did not have any shops). Grant income classified both under Donations and Legacies and under Income from Charitable Activities amounted to £1,349k compared to £779k in 2024, an increase of £570k. Detsils of grants reiVed are listed in notes 4 and 7 to the accounts. Shop trading made a net contribution to ntral costs of £51 k (2024 £8kl. This remained depressed by significant expansion costs opening new shops {all set up costs are written offj, but also other issues to do Wlth the management and operation of the shops_ An external report was commissioned into Ihe perf0mlan of the retail business, which made a number of recommendab-ons for change. As a result, some management changes have recentty been made and it is expected that retail perfOnan will have improved significandy in the current year. Direct costs of Charitable Activities increased to £880k (2024 £629k) due to the expansion of the charity and ils services. Support costs of Charitable Activities increased to £630k {2024 £429k) for Ihe same reasons. Net income for Ihe yearwas £4k compared to £234k in 2024," however, 2024 income included £264k assets imported from H&L, without which a loss of £30k would have been reported. Net income induded £26k gain on the investment portfolio (2024 £79k gain). Principal funding sourc In an increasingly competitive market and against a backdrop of economic uncertainty our focus over the18St 12 months has been to broaden our income sour9 while reviewing our current ftjnding and taking mitigating action. This has entailed a cornplete review of our retail perfomianco. with actions which aim to reap benefit in coming years. It has also seen a focus on novating and then extending our 3 major contracts - the Dementia Wellbeing Servi, Home from Hospitsl and Household Support Fund. We have built relalionships with stakeholders in new areas- principally in Wchavon- and secured funding. We have also begun a review of our paid for services. Page 5
Age UK Worcester, Malvern Hills & Hereford Localities Trading as Age UK Wyvern Report of the Trustees for the Year Ended 31st March 2025 Investment pollcy and objectives We have maintained our policy of investing surplus funds in a readily realisable fomi induding in the managed portfolio valued at the year end at £1,392k {2024 £1,360k). The portfolio incurred Management Fees of £8,8k (2024 £11.Ik). Cash resources {induding those held in fixed noti accounts classified as current asset investments) at the end of the year amounted to £660k12024 - £655k). Interest eamed from all deposits during the year was 245.4k {2024 - £35.3k). Reserve$ pollcy ReseeS are held lo mitigate against uncertainty, ensure there are sufficient reseNes 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 reseNes {unrestricted funds excluding fixed assets) of at least six months, total revenue expenditure. Restricted reseNes relate to funds received where the donor or grantor has restricted the use of those funds to a specific project or service. There is no longer a 'designated resetves, classification. Totsl reserves at 31 March 2025, excluding fixèd assets. were £2,022.96412024.' £1,961,206)- Total designated funds held were £0 {2024= £75,000) and total restncted funds held, excluding fixed assets, were £124,13112024 £296,784). At 31 March 2025, free reseNes, excluding amounts held as fixed assets, amounted to £1,898,83312024.' £1.589,4221 which was equivalent to total expenditure of 8 months {2024.' 10 months based on 2024 total expenditure). The Trustees are confident that there are sufficient reselves to cover possible adverse conditions or events in the meantime. FUTURE PLANS We will continue to explore new sources of unrestricted income, which will en8ble us to expand our services. STRUCTURE, GOVERNANCE AND MANAGEMENT Govèrnlng document The charitsbl8 company is controlled by its governing document, its Memorandum and Articles of Association (as amended by speaal resolutions on 12 August 2020, 4 November 2021 and 8 January 20241. 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, registrab'on no. 05688674 and ils activities are registered with the Charity Commission, registration no. 1114859. Organisational Structure and doclsion-making policies The Directors of the Company who are Trustees of the Charity and who held office during the ff nancial 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 intsrnal control in place and for the fo)mulation 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 Ihree-year strategic plan and a budget approved by Trustees annually. Regular reports and forecasts are prepared for the B02rd. The Trustees have delegated day to day management of the Charity to the Chief Executive officer ICEO), who during the yearwas Clare Thomas. In turn the fijnctions are canied out by staff who report to her- the functional responsibility being seNce provision, Finance, HR and facilities, Income Generation and Marf<eting and Retail. Appointsnent of trustees All charity trustees in office shall serve until the 2026 Annual General Meeting and be eligible for re-appoinbment for up to further temis of three years each, Recrultmenl Induction and Training To ensure an effèctive skill mix and effective governan, recruitment of new trustees is maintained permanenuy on a rolling basis. Each new trustee has a comprehensive induction, and the Board views its performance on a regular basis. It is also extemally audited by the tr-annual Age UK quality assessment process. Trustee Indemnlty Provl$ions The Charity's Articies of Association grants the Trustees indemnity under Sections 232-234 of Companies Act 2006. Page 6
Age UK w0eSter, Malvem Hills & Hereford Localities Trading as Ago UK Wyvem Report of the Trustoos for the Year Ended 31st March 2025 Key External Relationships The organisation is an independent Brand Partner of Age UK and abides by its nehvork agreement. It also works with a broad range of partners across the region including Citizens Advice and other voluntary 8gencies.' Worcestershire County Counul. Worcester City Council. Malvem Hills District Council- Herefordshire Council, the Integrated Care Board and NHS partners. It also wor1(s closely th other Age UK Brand Partners across the region. West Midlands regional nehNorking meet.ngs and events are attended, where good practi 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 assuran against fraud and error. Public benefit In setbng objectives and planning for acb"vities, the Trustees have given due consideration to general guidan published by the Charity Commission relatt.ng to public benefit, including the guidance'Public benefit.. running a charity {PB2)'. EVENTS SINCE THE END OF THE YEAR lnfomiaè.on relatr.ng to events since the end of the year is given in the notes to the financAal statements. STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees {who are also the directors of Age UK Worcester, Malvem Hills & Hereford Localities for the purposes of company law) are responsible for preparing the Report of the Trustees and the fin8naal statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi). Company law requires the trustees to prepare ffinanaI statements for each financial year. Under that law, the trustees have elected to prepare the financial ststements in accordance with Unitad Kingdom Generally Accepted Accounting Practice (United Kingdom A¢¢ovnting Standards and applicabla lawl. Under company law the trustees must not approv6 the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resourcas. including the income and expenditure, of the Charitable company for Ihat period. In preparing those finanual statements, the trustees are required to select suitable accounting policies and then apply them consistently., obseNé the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent.. prepare the financial statements on the going concern basis unlass it is inappropriate to presume thal the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose wth 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. In so far as the trustees are aware.. there is no relevant audil information of which the charttable company's auditor5 are unaware", and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. This report has been prepared in accordance with the speaal provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order ofthe board ot trustees on . ZA¥...i.l..LS....... and signed on its beh81f by.. H Sherwood - Trustee and Co Chair C Clifford - Trustee a d Co Chair Page 7
Report of the Independent Audltors to the Members of Age UK Worcester, Malvern Hills & Hereford Localities Opinion We have audited the financial statements of Age UK Worster, Malvem Hills & Hereford Localities (the 'charitable company,) for the year ended 31st March 2025 which comprise the Statement of Fin2ncial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financyal reporting framawork that has been appli6d in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally AccEPted Accounling Practi1. In our opinion the financial statements.. give a Irue and fair view of the state of the charitable company's affairs as at 31 st March 2025 and of its incoming resour$ and application of resour8, including its income and expenditure, for the year then ended., have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) {ISAs IUKII 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 Ethi¢al Standard, and the provisions available for small entities, in the circumstsns set out in nots 25 to the f nancial statements, and we have fulfilled our other ethical responsibilities in accordanr£ with these requirements. We believe that the audit eviden we have obtained is sufficient and appropriate to PTovide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the trustees, usa of the going concem basis of accounling in the preparation of the financial statements is appropriate. Based on the wotl( we have performed, we hav8 not identified any material uncertainties relatino to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going ¢on¢ern for a period of at least e1ve months from when the financial ststemenls are authorised for issue. Our responsibilities and the SponSibl11t1eS of the trustees with respect to going concern are described in the relevant sections of this report. Othor Infomiation The trustees are responsible for the other infomiation. The other information comprises the infomalion 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 explicatly stated in our report, we do not express any fomi of assuran conclusion thereon. In connection th our audit of the financial statements, our responsibility is to read the other information and. in doing so, consider whether the other information is mat&nally inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misslaled. If we identify such material inconsistencies orapparenl material misstatements, we are required to determine whether this gives rise to a material misstatament in the financial statements themselves. If, based on the wort< we have performed, we condude that there is a material misststement of this other infomation. we are qUired 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.. the infomation given in the Report of the Trustees for Ihe financial year for which the financial statements are prepared is consistent with the financial statements., and the Report of the Trustees has been prepared in accordan with applicabla legal requirements. 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. We have nothing to report in respect of the following matters where the Companies Act 2006 qUireS us to report to you if, in our opinion.. adequate accounting records have not been kept or retums adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the acLounling records and retums., or certain disclosures of trustees, remUneraton specified by law are not made., or we have not received all the information and explanations we require for our audit., or the tsuslees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. Paga 8
Report of the Independent Auditors to the membe of Age UK Worcestsr. Malvern Hills & Hereford Localities Responsibilitles of trustees As explained more fully in the Slatement of Trustees, Responsibilities, the trustees (who ar& also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being salisfied that they give a true and fair view, and for such internal control as the trustees determine is nesSary 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 con¢em, disdosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitsble company or to cease operations, or have no realistic allernative but to do so. Our respon8ibilltles for the audit of the financial statements Ourobjectives are to obtain reasonable assuran about whether the financial statements as a whole are free from material misst8tement, whether due to fraud or error, and to issue a Report of the Independent Auditors that indudes our opinion. Reasonable assuran is a high level of assuran, but is not a guarantee that an audit conducted in accordance with ISAS {UKI will always detect a material misstatement when it exists. Misstatéments can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to Influen the economic decisions of users taken on the basis of these financial statements. Irregularilies, induding fraud. are instances of non-complian wth laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, induding fraud. However. it is the primary responsibility of management, with the oversight of those charged with govemance. 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 matsrial misstatement in respect of irregularities, including fraud, we have.. obtained an understsnding of the nature of the industy and seclor, 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 management, and those charged with governance, about their own identification and assessment of the risks of irregularities, induding any known actual, suspected or alleged InStanS of fraud. As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the finarscial statements aré 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 20191,, Financial Reporting Stsndard 102'The Finanaal Reporting Standard applicable in the UK and Republic of Ireland,, the Companies Act 2006 {and related lègislation), the Charities Act 2011 land 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 prOdureS to detect non-compliances which may have a material impact on the financial statements. which included reviewing the financial statement disclosures, reviewing Ihe calculations of VAT returns (inctuding ensuring that only input VAT on qualifying expenditure has been claimed) and sample testing of monthly payroll records for the calculation of gross wagas. payroll tsxes 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 restrtcted funds. We have reviewed managemenvs calculation methodology for allocating wage costs betsveen individual restricted funds. Because of the inherent limitations of an audit, there is a rFsk that we will not detect all irregularities, including those leading to a material misststement in the financial statements or non-compliance with regulation. This risk increases the more that Complian 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-complian. The risk is also gater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion. omission or misrepresentstion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Counal's website at www.frc.org.Ltklauditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Page 9
Report of the IndependentAudltors to the Members of Age UK Worcester, Malvem Hills & Hereford Localities Use of our report This report is made solely to the charitable company's membe, as a body, in accordan with Chapter 3 of Part 16 of the Companies Act 2006. Our audit wort< has been undertaken so that we might state lo tha charitable company's members those Matte we are required to stale to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have fomed. Melissa Jean Godwin ACA ACCA (Senior Statutory Auditor) for and on behalf of Richards Sandy Audit Servi$ Limited (statutory Auditor) Thorneloe House 25 Barboume Road Worcester WR1 1RU Date.. Page 10
Age UK Wor¢ester, Malvem Hills & Hereford Localities Trading as Age UK Wyvern Statement of Financial Activities Ilncorporating an Income and Expenditure Account) for the Year Ended 31sl March 2025 2025 Total funds 2024 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 109,225 198,929 308,154 322,262 Charitsble activitles Infomation and Advice Al Home Services Health & Wellbeing 2,492 102,044 342,908 275,213 277.705 102,044 889,329 23,709 45.522 521,051 546,421 Other trading activities Investment income Other income 1,076,729 50,606 45.775 1,076,729 50,606 45,775 854,993 37.670 264,353 Total 1,729,779 1,020,563 2,750,342 2,069,560 EXPENDITURE ON Raising fijnds 1.252.105 10,282 1,262,387 856,434 Charitable aclivities Infomiation and Advice At Home servIs Health & Wellbeing 10 1.748 94.864 213,440 661.691 663,439 94,864 751.328 282,733 93,628 681,826 537,888 Total 1,562,157 1,209,861 2 772,018 1,914,621 Net gains on investments 25,714 25,714 79,181 NET INCOMEI(EXPENDITURE} 193.336 (189,2981 4,038 234,120 Transfern between funds 23 8,588) 8,588 Net movement In funds 184,748 {180,7101 4,038 234,120 RECONCILIATION OF FUNDS Total funds brought forward 1.970.394 661,472 2,631,866 2.397.746 TOTAL FUNDS CARRIED FORWARD 2,155 142 480,762 2,635,904 2,631,866 The notes fom part of these financi81 statements Page11
Age UK Worcester, Malvern Hills & Hereford Localities Trading as Age UK Wvern Balance Sheet 31st Mar¢h 2025 2025 Total funds 2024 Total fijnds Unrestricted funds Restricted funds Notes FIXED ASSETS Tangible assets Investments 17 18 256,310 1.392,610 356,630 612,940 1,392,610 670,660 1,359,809 1,648,920 356,630 2.005.550 2,030,469 CURRENT ASSETS Debtors Investrnents Cash al bank 19 20 160,642 460,996 145,322 70,000 12,216 41,916 230,642 473,212 187.238 140,167 376,500 278,305 766,960 124,132 891,092 794,972 CREDITORS Amounts falling due wathin one year 21 {260,7381 {260,738) 1193,5751 NET CURRENT ASSETS 506,222 124,132 630,354 601,397 TOTAL ASSETS LESS CURRENT LIABILITIES 2,155,142 480,762 2,635,904 2.631,866 NET ASSETS 2 155.142 480.762 2.635.904 2,631,866 FUNDS Unrestricted funds Restricted funds 23 2,155,142 480,762 1,970,394 6S1,472 TOTAL FUNDS 2,635,904 2,631,866 These financial staterrents have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financi81 statements were approved by the Board of Trustees 8nd authorised for issue on ...Z4k... .11.:..IS..... and were signed on its behalf by.. H Sherwood - Trustee C Clifford- Trustee The notes fomi part of these finan(Mal statements Page 12
Age UK Worcester, Malvem Hllls & Hereford Localities Trading as Age UK Wyvern Cash Flow Statement for the Year Ended 31st March 2025 2025 2024 Notes Cash flows from operating activities Cash generated from operations 117 6531 67,8511 Net cash used in operating activities 117 6531 67,8511 Cash flows from investing activities Purchase of tsngible fixed assets Purchase of fixed asset investments Sale of tangible fixed assets Sale of fixed asset investments Net Tnovemenl to current asset investment Cash acquired as part of Age UK Hereford & Localities Interest received Dividends received {7,4991 (216,4721 92,500 209,385 196,712) (569,0681 2,500 295,571 197,164 114,846 35,320 45,255 129 Net cash proirided by investing activities 26,586 76,333 Change in cash and cash equivalents In the reporting period (91,0671 8,482 Cash and cash equlvalents at tho beginning of Ihe reporting poriod 278 305 269.823 Cash and cash equivalents at the end of the reporting period 187 238 278,305 The notes fomi part of these financial statements Page 13
Age UK Worcester, Malvern Hills & Hgreford Localities Trading as Age UK Wyvern Notes to the Cash Flow Statement for the Year Ended 31st March 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net income for the reporting period {as per the Statement of Financial Activities) 4,038 234,120 Adjustments for: Depreciation charges Gain on investsnents Profit on disposal offixed assets Interest received Dividends received Donation oftrade and assets of Age UK Increase in debtors Increase in creditors 18,494 {25,714) {45,775) {45,255) (129) 66.420 (79,181) 1713) 135.320) {264,353) 124,570) 35,746 {90,475) 67,163 Net cash used in operations 117,653) 67 851) ANALYSIS OF CHANGES IN NET FUNDS At 1.4.24 Cash flow At 31.3.25 Net cash Cash at bank 278,305 278 305 187 238 Llquid resources Deposits included in cash Current asset inveslments 376 500 96.712 473,212 376 500 473,212 Total 654 805 5.645 660.450 The notes form part of these financial statements Page 14
Age UK Worcester, Malvern Hllls & Hereford Localitles Trading as Age UK Wyvem Notes to the Financlal Statements for the Year Ended 31st March 2025 STATUTORY INFORMATION Age UK Worcester, Malvem Hills & Hereford Localilies is a charitable company limited by guarantse registered in England and Wales. The charitable company's regisiered 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 ofthe 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 TrtJstees' 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. have been prepared in accordan with the Charities SORP IFRS 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) {effeclive 1 January 20191,, Financial Reporting Stsndard 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exptIOn of investments which are included at market value. as modified by the ravaluation of certain assets. GOING CONCERN The financial statements have been prepared on a going concem basis as the trustees believe that no material UnrtaInlieS 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 ststements. Tha budgeted income and expenditure is sufficient with the level of reserves for the charity to ba able to continue as a going concern. INCOME All income is recognised in the Statement of Financial Actimties On thè charity has entitlement to the funds, it is probable that the income will be reiVed 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 re¢ognised when probate is granted and there is suffiaent infomation 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 legaeS will be disclosed in the notes to these financial statements). Where legaaes are handled by the national branch of Age UK I charity no. 1128267) who then determine what, if any, share is due to the charity. legacy income is recognised on the date that these decisions are made. Income relating to services provided in the course of undertaking direct charitable activities represents the value of sermces 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. Interest income {including Interest reIV2b1e on fixed interest listed investment bonds) is recognised for all interest- bearing instruments on the effective interest rate basis. Dividends are recognised in the income statement when they are declared. 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 th21 a transfer of economic benefrts 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. Wnere costs cannot be directly attnbuled to particular headings th8y have been alloGated to activities on a basis consistent with the use of reSoUrs. Page 15 continued...
Age UK Worcester, Malvem Hills & Hereford Localitie5 Trading as Age UK Wyvern Notes to the Financial Statements- continued for the Year Ended 31st March 2025 ACCOUNTING POLICIES- contlnued 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-charitsble trading. CHARITABLE ACTIVITIES Expenditure on charitable activ(ttes is incurred on directly undertaking the activities which further the charitable companls objectives, as well as any associated costs. ALLOCATION AND APPORTIONMENT OF COSTS Expenditure is classified by activity. The costs of each activity are made up of the total of direct cnsts 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 attn"butsble to a single activity are apportioned between charitable actimties 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 useftjl life. Freehold propety Fixtures and fittings Motor vehicles 20A on cost 20% on cost 25Vo on cost LISTED INVESTMENTS Lisled investments are stated at market value. Increases/(decreasesl on revaluations of listed investments are transferred tol(froml the Ststement of Financial Activities. TAXATION The charity is exempl from corporation tax on its charitable activities. FUND ACCOUNTING Unrestricted funds can be used in accordance the charitable objectives at the discretion of Ihe 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 fvnd is included in the notes to the finanaal statements. FINANCIAL INSTRUMENTS The charity has elected to apply the provisions of Section 11, Basic Financial Instruments, and Section 12 '0ther Financial Inslruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised when the charity becomes paty 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 simullaneously. Basic Financial Assets Basic financial assets, which indude trade and other re1Vable$ and cash and bank balances, are initially measured at transaction PTtC8 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 Liabilitlas Basic financial liabilities, including trade and other payables, are initially recognised al transaction pri 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 interesL Debl instrumenls are subsequenlly carried at am0sed cost, using the effective interest rale melhod. Page 16 conb'nued...
Age UK Worcester, Malvem Hills & Hereford Localities Trading as Age UK Wyvern Notes to the Flnanclal Statements - continued forthe Year Ended 31st March 2025 ACCOUNTING POLICIES . ¢ontlnued Trade payables are obligations to pay for goods or services th8t have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if paymént 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 indudes cash and short-temi highly liquid investsnents 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 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. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY Estimate5 and judgements are continually evalualed and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical aroas ofludgements The allocation of support costs belween 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 Gosts beeen individual unrestricted and reslricled funds is directly linked to the assumpt(ons made in allocating staff costs beeen 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 ch8rity at the year end. Significant judgement is applied when determining whether or not each of the grants reiVed by the charity are subject to conditions that either link the amounts re1vable to the achievement of a particular level of servi provided or state that elements of the total grant award cannot be spent until future financial periods. whe grant income is considered to be recEived subject to such conditions, then the element of the total grant award that does not meet the criteria for recognition as at the balance sheet date is not recognised and any cash reiVed in advance of meets'ng the criteria for recognition is deferred. Key sources of ¢stimatlon uneèrtalnty Parb'clflarfy 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 detemiine 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 accounb.ng policies in note 2. The carrying value of tangible fixed assets can be found in note 17. Page 17 continued...
Age UK Worcester, Malvern HilEs & Hereford Localities Trading as Age UK Wyvern Notes to the Financial Statements - continued forlhe Year Ended 31st March 2025 DONATIONS AND LEGACIES 2025 2024 Donations Légacies Grants 106,725 3,928 197,500 32,986 10,887 278,389 308,154 322 262 Grants received, included in the above, are as follows.. 2025 2024 Age UK National - Cost of Living Response Fund Age UK National - Partnership Grant Citizens Advice WOrster and Herefordshire Eveson Charitable Trust Herefordshire Community Foundation Ledbury Town Council National Lottery Community Fund University of Worcester Worcestershire County Council- Household Support Fund 7,500 45,000 15,000 71,000 55,000 10,000 1,100 9,740 46,500 185,000 5,000 197,500 278,389 OTHER TRADING ACTIVITIES 2025 2024 Sundry Shop income 1,312 853,681 1,076,729 1,076,729 854,993 INVESTMENT INCOME 2025 2024 Rents receivad Bank interest Listed investrnent income 5,222 20,185 2.350 12,377 22.943 37,670 INCOME FROM CHARITABLE ACTIVITIES 2025 2024 Activity Infomalion and Advice Information and Advice At Home Services Health & Wellbeing Health & Wellbeing Client service fees Grants Client seNi¢e fees Client Servi fees Grants 3,454 274,251 102,044 12,009 877 320 709 23,000 45,522 43,310 477,741 1.269.078 590,282 Page 18 continued...
Age UK Worcester, Malvern Hills & Hereford Localities Trading as Age UK Wyvern Notes to the Financial Statements - continued for the Year Ended 31st March 2025 INCOME FROM CHARITABLE ACTIVITIES- continued 2025 2024 Grants received. included in th8 above, are as follows.. 2025 2024 Age UK National Citizens Advice Worcester and Herefordshire Herefordshire Council Malvern Hills District Council Malvern Hills District Council - UK Shared Prosperity NHS Herefordshire & Worcestershire ICB Worcester City Council - Household Support Fund Worcestershire County Council - Household Support Fund 3,399 148,750 171,580 32,500 212.500 175.000 1,421 406 421 7,275 23,000 9,890 185,625 274,951 1,151 571 500,741 OTHER INCOME On 31 December 2023 the assets, liabiltttes and activities of Age UK Hereford and Localities18 charitable company limited by guarantee with company number 04394760 and charity number 10935121 were transferred to Age UK Wyvern. The transfer totalled £264,353 and is included within other income in the comparatives to these accounts. During the current year the charity sold tangible fixed assets, eaming a one off g8in on disposal of £45,775. RAISING FUNDS OTHER TRADING ACTIVITIES 2025 2024 Stsff costs Rent, rates and water Insurance Light 2nd heat Computer Telephone Repairs and maintenan Shop expenses Legal and professional fees Depreciation 636,774 147,349 4,132 42,557 10,636 8.046 74,615 90,770 476,010 113,167 2,194 55,277 14,494 7.703 48.365 78,627 10,856 38,687 10,871 1,025,750 227,820 845,380 Support costs- see note 12 1,253,570 845,380 INVESTMENT MANAGEMENT COSTS 2025 2024 Listed investment manager fees 8,817 11,054 Aggreg8te amounts 1 262 387 856 434 Page 19 continued...
Age UK Worcester. Malvern Hills & Hereford Lo¢alltles Trading as Age UK Wyvern Notes to the Finan¢lal Statements - continued for the Year Ended 31st March 2025 10. CHARITABLE ACTIVITIES COSTS Direct Costs (see note 111 Support costs (see note 121 Totals Information and Advice At Home seNis Health & Wellbeing 319,535 75.937 484.512 343,904 18,927 266,816 663,439 94.864 751.328 879,984 629,647 1.509,631 11. DIRECT COSTS OF CHARITABLE ACTIVITIES 2025 2024 Staff costs Project costs Volunteer expenses Warm Homes Costs Home Energy Checks Costs Warmth on Prescription 666,566 65,959 4,667 18,004 96,725 443,735 30,986 2,246 10,431 116,820 879,984 629,232 12. SUPPORT COSTS Governance costs Management Finan Totals Raising Funds Raising funds- trading activities 209,202 1.778 16.840 227,820 Charitable activities Infomialion and Advice At Home SeNices Health & Wellbeing 335.598 16,970 257,395 793 187 900 7.513 1,770 343.904 18,927 266,816 609 963 1.880 17,804 629,647 819 165 3.658 34,644 Page 20 continued...
Age UK Worcester, Malvern Hllls & Hereford Localities Trading as Age UK Wyvern Notes to the Financial Statements - continued for the Year Ended 31st March 2025 12. SUPPORT COSTS - continued Support costs. included in the above, are as follows.. 2025 2024 Wages Social security and pension Employee benefits Rent, rates and water Insurance Light and heat Telephone Postage and stationery Advertising Sundries Repairs and maintenance Travel Motor expenses Trustee meetings Computer Subscripbons Redundancies Depreciation of tangible fixed assets Profit on sale of tangible fixed assets Bank charges Auditors. remuneration Accountancy fees Legal fees 362,398 33,267 18,332 44,474 12,959 23,712 17,118 15,481 10,275 16,789 162,443 14,988 16,434 1,955 42,558 8,859 9,500 7,623 168,359 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 27,731 {7131 3.154 9.066 6,380 10.650 3.658 14,187 5,032 857 467 428 955 Page 21 continued...
Age UK Worcester, Malvern Hills & Hef0rd Localities Tradlng as Ago UK Wyv•m Notes to the Financial Statements - continued forthe Year Ended 31st March 2025 13. NET INCOMEIIEXPENDITURE) Net incomellexpenditurel is stated after chargingllcrediting).. 2025 2024 Audito. remuneration Depreuation - owned assets Sun)lus on disposal of fixed assets Amount paid under operating leases 16,517 18,494 (45.7751 142 627 9,066 66,418 (713) 122 444 14. TRUSTEES, REMUNERATION AND BENEFITS There were no trustee5' remuneration or other benefits for the year ended 31st March 2025 nor for the year ended 31st March 2024. TRUSTEES. EXPENSES There were no 31st March 2024. tnjstees, expenses paid for the year ended 31st March 2025 nor for the year ended 15. STAFF COSTS 2025 2024 INages and salaries Redundanaes Social security costs Pension costs (relating to defined contribution schemes) Employee benefits 1,517,428 9.500 134,803 55,960 9,144 1.026,784 34.025 69,912 15,719 5,624 1.726 835 1,152,064 The average monthly number of employees during the year was as follows.. 2025 85 2024 61 Average nurnber of employ8es The number of employees whose employee benefits {excluding employer pension costs) exceeded £60,000 was: 2025 2024 £70,001-£80,000 The key management personnel remunerations for the year (including employerfs N.1. and pension costs) totalled £171,066 {2024- £253,759). Page 22 continued...
Age UK Worcester, Malvern Hllls & Hereford Localities Trading as Age UK Wyvern Notes to the Financial Statements - continued for the Year Ended 31st Marth 2025 16. COMPARATIVES FOR THE STATEPbfjENT OF FINANCIAL ACTIVITIES Unrestricte(J funds Restricted funds Total funds INCOlJtE AND ENDOWMENTS FROM Donations and legacies 128.289 193,973 322,262 Charitsble activities Information and Advice At Home Services Health & Wellbeing 23,709 45,522 66,210 23.709 45,522 521,051 454,841 Other trading activities Investment income Other income 854,879 37,670 119,426 114 854.993 37,670 264,353 144,927 Total 1,275,705 793,855 2.069.560 EXPENDITURE ON Raising funds 846,924 9,510 856,434 Charitsble activities Information and Advi At Home Servi5 Health & Wellbeing 125,636 93.628 235,485 157,097 282,733 93,628 681,826 446,341 Total 1.301.673 612,948 1.914.621 Net gains on investments 79,181 79,181 NET INCOME 53,213 180.907 234,120 RECONCILtATION OF FUNDS Totsl funds brought forward 1,917,178 480,568 2,397,746 TOTAL FUNDS CARRIED FORWARD 1,970,391 661,475 2,631.866 Page 23 continued...
Age UK Worcester, Malvern Hills & Hereford Localities Trading as Age UK Wyvem Notes to the Financial Statements - Continued for the Year Ended 31st March 2025 17. TANGIBLE FIXED ASSETS Fixtu$ and fittings Freehold propety Motor vehicles Totals COST At 1 st April 2024 Additions Disposals 865,679 77,221 7.499 42,994 985,894 7,499 69 000) 50,000) 19 000) At 31 st March 2025 815,679 924 393 DEPRECIATION At 1 st April 2024 Charge for year Eliminated on disposal 210,267 14,621 77.221 1,499 27.746 2,374 14.250) 315,234 18,494 22.275) At 31 sl March 2025 216 863 78.720 15,870 311,453 NET BOOK VALUE At 31 st March 2025 598 816 612940 At 31 st March 2024 655,412 15,248 18. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At 1st April 2024 Additions Disposals Revaluations 1,359,809 216,472 (209,3851 25.714 At 31st March 2025 1.392,610 NET BOOK VALUE At 31st March 2025 1,392,610 At 31st March 2024 1,359,809 19. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors Other debtors VAT Accrued income Prepayments 30,593 26,882 36.552 91,726 44,889 24,252 14,292 54,559 230,642 140,167 Page 24 continued...
Age UK Worcester, Malvern Hills & Hereford Localities Trading as Age UK Wyvern Notes to the Financial SLitements - continued for the Year Ended 31st March 2025 20. CURRENT ASSET INVESTMENTS 2025 2024 Cash equivalents on deposit 473.212 376,500 21. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade creditors Social security and other taxes Pension Creditor Other creditors Accrued expenses Deferred grant income 101,330 25,309 9,337 63,404 20,691 1.519 978 51,358 55,625 53,058 260 738 193,575 Deferred grant income Deferred grant income relates lo service grants receivable where the delivery of the service will not take place until the next financial year, 22. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows.. 2025 2024 thin one year Befvjeen one and five years In more than five years 183,368 559,705 160.940 168,339 634,309 165,681 904,013 968,329 23. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.3.25 At 1.4.24 Unrestrfcted funds General fund Fixed Asset Rep1arnent Fund 1,895,394 75.000 193,336 66,412 75,0001 2,155,142 1,970,394 193,336 18,588) 2.155,142 Restrlcted funds 98110 Mealcheapèn Street Grief Support Hereford Befriending Household Support Fund 4- Home Energy Audits Infomiation & Advi Fund Shed's Together Social Club Lottery Fund UK Shared Prosperity Fund Wamlh on Prescription 364,688 9,740 6,674 {8,057} {9,740} {6,674) 356,631 142A24 56,923 7,977 12,946 35,114 24,986 <142,424) 42,222 (16,565) {12,9461 (35,114) 24,986 8,588 124,131 24 986) 661.472 189,298 8,588 480,762 TOTAL FUNDS 2,631866 4,038 2,635 904 Page 25 continued...
Age UK Worcester, Malvern Hills & Hereford Localities Trading as Age UK Wyvern Notes to the Financial Staternents - continued for the Year Ended 31st March 2025 23. MOVEMENT IN FUNDS- continued Net movement in ftjnds, included in the above are as follows.. Incoming reSoUrS Resources expended Gains and losses Movement in funds Unrestricted funds General fvnd 1,729,779 (1,562,157) 25,714 193,336 Restrictod funds 9a110 Mealcheapen Street Grief Support Hereford Befriending Household Support Fund 4- Home Energy Audits Infomiation & Advice Fund Shed's Together Social Club Lottery Fund UK Shared Prosperity Fund (8,0571 (9,7401 (6,674) {8,0571 {9,740) {6,674) {142,4241 {758,942) {23,4651 {12,9461 247,6131 (142,424) 42,222 (16,5651 (12,946) 35,114) 801,164 6,900 212499 1,020,563 1,209,861) 189,298) TOTAL FUNDS 2,750.342 2,772 018) Comparatives for movement in funds Net movement in ndS Transfers between funds At 31.3.24 At 1.4.23 Unrestrlcted funds Genéral fund Fixed Asset Replacement Fund Activities FLtnd Dementia Fund Footcare Fund Good Neighbour Network Fund Handy Person Fund Homeworkers Fund Visiting & Befriending 1,400,111 75,000 13,952 104,509 62,596 52,731 3,693 132,597 71,989 53,216 442,(7 1,895,394 75.000 113,952) (104,509) 162,596) 152,731) {3,693) (132,597) 71,989) 1,917.178 53,216 1,970,394 Restricted funds 9a110 Mealcheapen Street Cost of Living Response Fund Digital Inclusion Fund Griefsupport Hereford Befriending Household Support Fund 4- Home Energy Audits Infomation & Advi Fund Shed's Together Social Club Lottery Fund Travelling Companions Fund UK Shared Prosperity Fund Warmth on Prescription 373,048 10,000 44,333 {8,360) {10,000) {44,3331 9,740 6,674 364,688 9,740 6,674 142,424 34.378 7,977 142,424 56,923 7,977 12,946 22,545 12,946 17,696 {17,6961 35,114 24,986 35,114 24.986 480,568 180,904 661.472 TOTAL FUNDS 2,397,746 234,120 2,631,866 Page 26 continued...
Age UK Worcester, Malvern Hills & Hereford Localities Trading as Age UK Wyvern Notes to the Financial Statements - Gontinued for the Year Ended 31st March 2025 23. MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows.. Incoming Resources resources expended Gains and losses Movement in funds Unrestrlcted funds General ftjnd 1,275,705 11,301,670) 79.181 53.216 Restricted funds 9a110 Mealcheapen Street Cost of Living Response Fund Demenb'a Fund Digital Inclusion Fund Grief Support Hereford Befriending Household Support Fund 4- Home Energy Audits Household Support Fund 4- Pensioners on Low Income Support Infonnats'on & Advice Fund National Grid Community Matters Fund Shed's Together Travelling Companions Fund UK Shared Prosperity Fund Wamilh on Prescription {8,3601 {55,0001 {46,4991 {44.3341 {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 (9,4741 {91,2741 {1.3501 {4.8201 {17,6961 (134.8861 25.0141 34.378 7,977 {17.6961 35,114 24,986 170.000 50,000 793,855 612951 180,904 TOTAL FUNDS 2,069,560 1.914,6211 79,181 234,120 PURPOSE OF FUNDS - DESIGNATED FUNDS The Fixed Asset Replacement Fund represents a general reseeS fund set aside as part of the charivs general reserves policy, where the exact timing of when this fund will be utilised is as yet undetermined. PURPOSE OF FUNDS - RESTRICTED FUNDS 9all0 Mealchèapen Street This fund relates lo the property 9a110 Mealcheapen Street. Worster, which was funded by the National Lottery Charities Board. Unless othetwise aulhorised by them. the propety cannot be disposed of for a term ot 80 leightyl yearB frorll the dale of purchase. The restriction expires in January 2Q81. All other conditions attached to the fund must be adhered to as well. Community Matters Fund This fund relates to monies received from Westem Power Distribub'on to deliver outreach activities for vulnerable and isolated people using a cc)ffee bus. Cost of Living Response Fund This fund relates to monies reIVed from Age UK (nationall. to meet urgent need and demand as a result of the increased cost of living. Creativg Friends Fund This fund relates to monies received from the National Lottery Community Fund to fund Creative Friends Intergenerational Art Wothshops project. Dementla Fund This fund relatas to monies recEived from UnivetBity of Worcester in regards to providing community support to those suffering from dementia, Page 27 continued...
Age UK Wor¢ester, Malvern Hi118 & Hereford Localities Trading as Age UK Wyvem Notes to the Financial Ststements - continued forthe Year Ended 31st Mar¢h 2025 23. MOVEMENT IN FUNDS - contlnued Digital Inclusion Fund This fund relates to monies received from Age UK Inationall for running the Digital Champion Programme, Griéf Support This fund relates to monies received from National Lottery Communty Fund for dementia, anticipatory grief training. Hereford Befriending This fund relates to monies received to fund befriending activities in Hereford. Household Support Fund 4- Home Energy Audlts This fund relales to monies reiVed from wOrstershIre County Council from the Household Support Fund 4 to delivery home energy checks. Household Support Fund 4- Pensloners on Low Income Support This fund relates to monies recewed from Hereford5hire Council from the Household Support Fund 4 to delivery support to low-income pensioners. Information & Advice Fund This fund relates to grants reiVed from Age UK (national) and Eveson Trust to develop infrinnation and advice services. Men's Shed Fund This fund relates lo monies originally reiVed from the Langdale Trust to fund a project to support older men who want to get together, share and leam new skills National Grid Community Matters Fund This fund relates to monies received from National Grid towards Energy Roadshows. Social Club Lottery Fund This fund relates to a grant recEived from the Social Club Lottery for the deliverance of a seated dan dub for the eldetly. Shed's Together This fund relates to monies received for the H&L Shed's Together project, the aim of which is to reach out to address the needs of older men in the area who would benefit from a safe, welcoming environment to meet. SO811$e and sharellearn new skills. Travelling Companions Fund This fund relates to monies received from Age UK {nationall to enable older people to get out and about. UK Shared Prosperity Fund This fund relates to monies reiVed trom M8lvem Hills District Council, distributed from the UK Shared Prosperity Fund. Visiting & Befriending Fund This fund relates to monies received from Malvern Hills Distr(ct Council and Independent Age to support re- estsblishing face to fa seIS for older people. Wamith on Pres¢rfption This fund relates to monies ceIVed from Worcestershire County Counul 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. Wor¢ester City Councll - Cr]sls Pot This fund relates to monies reiVed from Worcester City Council to support families and individuals who need immediate support whilst waiting for referrals or appoinlments. Page 28 continued...
Age UK Worcester, Malvern Hills & Hef0rd Localities Trading as Age UK Wyvern Noles to the Financial Statements - continued forthe Year Ended 31st March 2025 23. MOVEMENT IN FUNDS- contlnued TRANSFERS BETWEEN FUNDS During the year £24,986 was transferred from the Wamith on Prescription find to the I&A Fund to represent the trustees decision to create one restricled fund the information and advice restricted funding reived. £8,588 was transferred from general funds to cover a deficit on the fund. 24. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 st March 2025. 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. 26. POST BALANCE SHEET EVENTS Since the year end, a new le8se has been signed resulting in financial commitments within 1 year of £13,125 and after 1 year of£91,627. Page 29 continued...
Age UK Worcester, Malvern Hi118 & Hereford Lijealities Tradlng as Age UK Wyvern Detailed Statement of Financial Activities forthe Year Endgd 31st Mar¢h 2025 2025 2024 INCOME AND ENDOWMENTS Donations and legacies Donations Legacies Grants 106,726 3.928 97,500 32,986 10,887 278,389 308,154 322,262 Other trading adivities Sundry Shop income 1,312 853 681 1,076,729 1,076.729 854,993 Investment income Rents received Bank interest Listed investment income 5,222 20,185 25,199 2,350 12,377 22,943 50,606 37,670 Charitable activities Client seNice fees Grants 117,507 1151571 89,541 500.741 1.269,078 590,282 Other income Gain on sale of tangible fixed assets Exceptional items 45,775 264,353 45,775 264,353 Totsl incoming resources 2,750,342 2.069,560 EXPENDITURE Other trading activities Wages Soci21 security and pensions Employee benefits Rent, rates and water Insuran Light and heat Computer Telephone Repairs and maintsnan Shop expenses Legal and professional fees Freehold propety Fixtures and fittings Motor vehicles 576,729 58.921 439,571 32,965 3,474 113,167 2,194 55,277 14,494 7,703 48,365 78,627 10,856 10,368 23,665 4,654 147,349 4,132 42.557 10,636 8,046 74,615 90,770 9,372 1,499 1.025.750 845,380 This page does not fomi part of the statutory financial statements Page 30
Age UK Worcester, Malvorn Hllls & Hereford Localities Trading as Age UK Wyvern Detailed Statement of Financial Activities forthe Year Ended 31st March 2025 2025 2Q24 Investment management Costs Listed investment manager fees 8,817 11,054 Charitable actlvities Wages Social security and pension Employee benefits Project costs Volunteer expenses Warm Homes Costs Home Energy Checks Costs WaTmlh on Prescription 578,303 85,423 2.840 65,959 4,667 18,004 96,725 28.063 418,975 23,395 1,365 30,986 2,246 10,431 116,820 25,Q14 879,984 629,232 Support costs Wages Social security and pension Employee benefits Rent, rates and water InsuranGe Light and heat Telephone Postage and stationery Advertising Sundries Repairs and maintenance Travel Motor expenses Trustee meetings Computer Subscriptions Redundancies FehOld propety Fixtures and fittings Motor vehicles Profit on sale of tsngible fixed assets 362,398 33.267 18,332 44,474 12,959 23,712 17,118 15,481 10,275 16,789 162,443 14,988 16,434 1,955 42,558 8,859 9,500 5,249 168,359 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 6,580 14.724 6,427 713) 2,374 819,165 399,705 Finance Bank charges 3,658 3,154 Governance costs Auditors, remuneration Accountancy fees Legal fees 14,187 5,032 15,425 9,066 6,380 10,650 34,644 26,096 Total resour$ expended 2772 018 1914 621 Net (expenditure)fincome 21,676 154,939 This page does not fomi part of the statutory financial slalements Page 31