REGISTERED COMPANY NUMBER: 0605T197 (England and Wales) REGISTERED CHARITY NUMBER: 1118711 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR AGE CONCERN ISLE OF WIGHT
AGE CONCERN ISLE OF WIGI CONTENTS OF THE FINANCIAL STATEmEs FOR THE YEAR ENDED 31 MARCH 2025 Page Report of the Trustees 1 to 11 Report of the Independent Auditors 12 to 15 Staternenl of Financial Activities 16 Balance Sheet 17 Cash Flow Slatement 18 Noles to the Cash Flow Statement 19 Notes to the Flnanclal Ststements 20 to 33
AGE CONCERN ISLE OF WIGHT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Th? trustees, who are also diiectors ol the charity for Ihe purposes of the Companigs Act 2006, present their report with the financial stal8ments of Ihe charity lor tha year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities prèparing their acGounls in accordance with the Financial Reporting Star)dard applicable in tho UK and Republic of Ireland IFRS 1021 lelfective 1 January 2019). OBJECTIVES AND ACTIVITIES OUR VISION Age UK Isle of Wlghvs vision is to work in partnership to enable okler people on thè Isle of Wight to live well, independently. while not feeling isolaled or lonely. OUR MISSION STATEMENT We will work with others to offer services Ihat enable independent living. Wg asiir8 to be innovators. afways adaptable, agile. and responsive to Ihe needs ot older Islanders. OUR AIMS AND OBJECTIVES The Chartiy Objects promote the following purFX)ses lor the benefit of the publiG andlor older people within th8 Isle of Wight: o prBventing or relieving the povarty of okler people". advancing education: preventing or relieving sickness, disease or suff8ring (whetFEr emotional, mental or physical}", promoting equaty and drversty. promoting the human rights of older people in )rdance with the Universal Declaration of Human Rights. assisting older people in need by reason of ill-heallh. social exclusion or othar disadvantage.. and such olher charitable pUoseS for the beneltt of older people as the Directors from tlme to time decide,. tha outcome of this being the promolton of the well-being of older people. Our activrties fulty reflect the Vtsion. Purpose. Aims and obJ{1veS that the charity was sèt up to further. OUR STFIATEGIC DIRECTION The Charity has a strategy to navigate lh8 8V8r-¢hanging external environment and financial challenges. Work has continued to review our operational model to ensure the charrty remains suslainable, whilst ensuring older Islanderg continue to be supported by the Charty's services. Our work in 2024-25 continued to deliver seNices to Islanders that included: CORE CHARITABLE ACTIVITIES.. Information and Signposting Welfare Benefit Checks and Support to Claim These Volunteer Befriending Good Neighbour Scheme HEALTH AND SOCIAL CARE COMMISSIONED ACTIVITIES: HospFtal Discharge Support to include the Crisis Team and Hospital IDT Communty Unit Activities Older Persons Mental Health Navigation Service Page 1
AGE CONCERN ISLE OF WIGHT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 DIGITAL INCLUSION: Digilal Inclusion Project funded by the Charty R&seNes OUR INCOME GENERATING SERVICES: Just About You (JAY) Help at Home Trustees and the Senior Leadership Team reviewed Ihese activikies to ensure they were fil for purpose in meeting our aims and objectives and aligned with our Vision and Purpose. This regular scrutiny looked at what has been aohieved, the béneficial impact on our dients and communty. and where we might improve, HOW OUR ACTIVITIES DEUVER PUBLIC BENEFIT Age UK Isle ol Wight Trust8es have referred to the advice contained in th8 Charity Commission's general guidance on public beneflt when reviewing our objectives and in planning for future activty. Truslees consider that our activities reflect our aims and objectivès and are designed to deliver accessible services and adivitiès Ihat b9nafit the appropriate section of the public in accordancè wilh our charitable objectives. WHO USED AND BENEFfED FROM OUR SERVICES AND PROJECTS? Our objects and funding streams restrict the seNices we provide to restdents on the Isle of Wlght, although indirectly our s&Nicas also support relatives, carers and friends Itving on the mainland. Our primary beneficiaries are those aged 50 and over, however our articles enable us to work with all persons on the Island preventing or relieving sickness, disease or suffering {whelher emotional, mental or physical}. There are over 41,0000 people over the agè of 65 living on Ihe Isle of Wight. The 2021 census shows Ihe Islo of Wight population is significantly older Ihan the England average. 29.3 % of Islanders 65+ compared to 18.4 /. elsewherè in England, represenling a 27¥0 increase sincg the 2011 census. These figures are predicted to grow to 34% by 2030, particutarly in the 60-69 and 804 aga ranges. GEOGRAPHY: The Island is a Unitary Authority and Heath and Social care activities are delivered in three localities. digned with the three Primary Care Networks: Northeast WighL South Wigm and West and Cenlrai Wight. and we support across a]1 locality areas. Page 2
AGE CONCERN ISLE OF WIGHT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 ACHIEVEMENT AND PERFOFIMANCE REVIEW OF ACTlVttlES During 2024-25. our aclivities continued to reach and provlde benefit to a signrflcant number of older people. They covered the following key arèas: OUR CORE CHARITABLE SERVICES INFORMATION AND SIGNPOSTING Providing independent, impartid. and confidential information and signposting to enabl8 people to make informèd decisions and access timely sUPPOrt. Access to th& setvice was through telephone enquiries, appointments. oulreach events. and home visits. This Setye was partly contracted in partnership wilh Citizens Advice Isle of Wight funded through the IOW Council which ended in December 2024. From April 2024 to March 2025, we responded to 9.159 phone calls directly into this seNice alone. GOOD NEIGHBOUR SCHEME- VOLUNTEER BEFRIENDING Thè Good Neighbour Scheme is a comerstone of our charilable seNices. Our Volunteers provlde Iriendship and reliable support lor local older residents who are often isolated or lonely. This is delivered ihrough Telephone and Face to lace befri6nding, latIonShip bljilding and signposting to vital information and services. In 2024-25 the Good Neighbour Scheme delivered over 8,800 hours of support. HEALTH AND SOCIAL CARE COMMISSIONED ACTIVITIES Hospital Based Services. Age UK Isle of Wight has continued working in partnership wilh IOW NHS Trust lo provide seNicas and activities to support the Integrated Discharge Team {IDT). Wrth a focus on enabling healthy and safe discharge home. and prevénting admission to hospitat when unnecessary, we havg bècome a key partner in the IDT. Whilsl there are three separately funded projects, we have delivered these as a seamless s8Nic&: Projecl 1. Provided an Activities Coordinator at the Hospital Community unit delivering social, physical and cognitive activities. This project supported 1,540 palients from April 2024 until October 2024, when this project ended. Prolect 2. Th& Hospital Care Navlgalors WOTk on the wards supporting safe dlscharge for patients who are medically optimised. Ensuring thal clients and carers are aware of appropriate seNices and acttviti&s available to them in th&ir communities and are confident in accessing this SLPPOrt onc8 home. In 202Q25 Ihe Hospilal Care NavlGators supported 2.731 paiienls. Page 3
AGE CONGERN ISLE OF WIGHT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Project 3. Hospltal Care Navigation support provided to the Crisis team enabling people to slay home and avoid hospital admittance. Age UK Isle of Wighl helped the IDT to support 506 patients to avoid admission in 2024-25. In total. Age UK Is18 01 Wight's Hospital Projecl supported 4.777 older Islanders. OLDER PERSONS MENTAL HEALTH NAVIGATORS Older Persons Mental Heahh Navigators promote sèlf-contidence to increase a person's sense of health and wellbeing. Thay help to improve qualty of life, mainlain independenc& and support individua15 and the famlly of Ihose who have had a diagnosis of Dementia atKI those who are waiting for assessment. In 2024-25 the service reiVed 1 .155 referrals. Additionally, this 5ervic& managgs a constant open caseload of Clients. stepping lh8 clienls down from the sérvice when appropriate to do so dependent on client needs. REACHING COMMUNITIES DIGITAL INCLUSION PROJECT The Reaching Communtties Digilal Inclusion project was funded by the charity from reserves and concluded in July 2024. This project provided digital SUPFK)rt through a range of activities enabling old8r residents to build their skills and confidence. SERVICES THAT WE GHARGE FOR JUST ABOUT YOU IJAY) Just About You provides Support Workers to undertake essential domestlG tasks Ihat clients are no longer able to do for Ihemselves. This may Incl1& shopping. cleaning, laundry, food pr¶tion. and sitting seNice. In 2024- 2025 thè service delNered over 30.921 hours to clients. OTHER VITAL INCOME GENERATING ACTIVITYTO GENERATE A MIXED INCOME ECONOMY: FUNDRAISING ACTIVITIES The charity is registered wilh the Funding Regulator and adheres to the regulators. Fundraising Promise and God8 01 Conduct, and all fundraising activities Gompty with General Data Protection Regtjlalions. No complaints have been received during Ihe financial year 2024-25. The Charity worked with an 8xEernal organisation to buibj a 'Case for Support and to undartake prospect research for funding opportuntties lo strengihen the charity's fundraising position. Annua] donation CaMpgn$ continued arKI in total thè Charty received £44,472 (2024: £33.300) in donations and £115,58912024 £67,269} in legacy donations. Page 4
AGE CONCERN ISLE OF WIGHT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 FINANCIAL FIEVIEW FINANCIAL POSITION: The current yearfs financial results reflected thB challenging ènvironment of rising costs, a very competitwa market for all charities seeknng additional funding. and some services and older projects being discontinued during Ihe y8ar. Steps have been taken in the year. however. to furthor reduce overheads, including the sale of the freehold offfce building and renting office premises instèad. Operations have been reviewed and streamlined. A tighter budget has been set for 2025 - 2026 reflecting the changes and funds have also been invested on a long-term basis to generate some steady incotrE for the tharity. Incoming unrestricted and restricted resources for the year, available for charilable application were respectively, £888.970 and £388,38412024 £799,792 and £669,225). Unrestricted and restricted expendilure amounted to £986,242 and £451,078 (2024 £842,526 and £743,593}. Unrestricted and restricted funds carried forward al the end of the year afflounted to £932,013 and £6,818 respectively (2024 £1.049,557 and £48,800}. The in-year deticit 01 £159.526 includes a doficit on restiicted funds of £41.982. Unr8slricted incorne can be used to support the charity to achieve ils charitable objectives- however, Ihe spending ot restricted funds is limited to specific projects. PRINCIPAL FUNDING SOURGES - Independent knving sere, Just About - £695,573 - Hospitd Car& and Community Contracted Services Income- £388.384 INVESTMENT POLICY A review of the Investment Policy is undertaken annually by the Finance and Risk Committee. and any risk to the Charity is mitigated by investing the Charity's funds in financially regulated entities with a ratlng of AA or higher. A designated long-temi income generaling inveslment fund has been created during the year to generate a source of steady income for the Gharty. whilst retaining separalely a prudent allocation of reserves for at least 3 months unrestrictod expenditure at all limes. The tnjstees retain discrabon lo redlocate funds Irom this d8signated ng-term investment fund rf negJed. Trustees remain committed lo maintaining, and if possible. enhancing the valup of reseNes by taking a balanced risk approach through due diligence. It remains particularly important to ensure that reserves do nol erode over time because of the effects of inflation. RESERVES POLICY It is the policy ol the charity to maintain unrestricted funds, which are the fie8 reserves available to the Charity, at a minimum level of 3 months unrestricted expendilure in order to b8 confident of maintaining the 8ssenti work of the Charity in the event of a signrficant drop in funding and lo avoid cash flow problems. This policy is reviewed annually by the Finance and Risk Committee to consider rf there hav8 been any changes in the risks to the organisation in the year, and they report lo the Board of Trustees for ralification of any amendm8nt if deemed necessary. The current level of unrestricted resgNes is £932.013 and is £412,677 after 8xcluding fixed assets and designated lunds, which means the charity continues to remain compliant with Ihe policy. Funds currently designated as a long-term income generating reserve can also be deSIgnated as unrestricted at the trustees discrètion if needed. Details of the funds aro outfined in the N4)tes to the Accounts. Page 5
AGE CONCERN ISLE OF WIGHT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 CURRENT STATUS AND PRIORITIES FOR THE NEXT 121.IONTHS j2025.126) Tha Chief Offic8r along with the Board of Trustees will review the Strategy and opgralional priortties for 2025 onwards. Lik8 many organisations, the Charity is worf(ing a lot harder and thlnking creatively to rnaximise opportunities and partnerships. We are constantly reviewing our service offer to support older Island residents. STRUCTURE, GOVERNANCE AND mANAGEMEERMANCE AND MANAGEIAENT GOVERNING IXXUMENT Age Concern Isle of Wight (ACIW), which trades as Age UK Isle of Wight, was registered as a private limited company on 18th January 2007. registralion no. 06057797. ACIW originally registered as a Charity on 29th May 1973, and the company was registered as a charity on 5th April 2007. The assets of the original unincorporated association were transferred inlo the private limTled company wlh effect from 1 st April 2008. ACIWS governing docum8nt is its Memorandum and Artides of Association which established the objects and powers of the charitabl8 company and is governed under its Articles of Association. This document was reviewed, and an administration clause added during 2024 for submission to the Charllies Commission and Companies House. In the evenl of the company being wound up members are required lo contribLrt8 an amount not exceading £1.00. The charity trustees are also directors of the company for the purposes of charity law and under Ihe company's Articles are known as the Board. All members of Ihe Board give1heirlime voluntarily arKI receive no benetits from the Chlty. No trustee expenses were reclaimed from the Ghlty this year. Last yearfs exFEnses, totaling £510. are set out in note 10 to the accounts. CHARITIES GOVERNANCE CODE 2017 The Board meets the principles and outcomes of the Charities Govemance Code 2017 by either applying the recomm8nded practice or by recording its explanation as to why it has decided not to apply the Cod8 and what is done instead in certain circumstances. TRUSTEE TENURE The principles of the Charty Governance Code wera accepted by the Board in 2018, and the Charity has taken steps to assess how well it meets recommended good practice and has acted on those area5 idenlified for improvemenl. The Board accepts th8 recommendation within the Charities Governan Code, that a trustee's temi be determined as 3 years, up to a maximum of 3 terms. If a trustee serves more than 9 years. their reappointment would be subje¢t to a particularly rtgorous raview and consider the need for progressive rglreshing of the Board. This would also be disclosed within the Annual Accounts. The Chair may serve for a maximum of 6 conse¢uttV9 years. Under th8 requir8ments of the Memorandum and Articles of Association, Trustees appointed to the Board beeen AGM'S retire at their first AGM and offer themselves for r&appDintmenl. Thereafter, all Trustees are included within a retirement by rotation, whereby one third of thè Board retire at each AGM and if eligible, ofter themselves for rtrappoinlm8nL During 2024-25, Mr. Martyn Pearl. having served 10 m o n t h s, resigned wtthin thgir inf(ial 3-year term due to personal commttments. Thè Charty thanks him for his aclive contribulion to Board activttles. Page 6
AGE CONCERN ISLE OF WIGHT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 RECRurrMENT AND AppoINrrMENT OF NEW TRUSTEES An annual review takes place ot the Board membership, and in the event of skills being lost. or new skills Identified as required by the trustees. these are activety soughl Ihrough a recruitment process in accordance with the trustees, Recruitment Policy. Age UK Isle of Wight also works to ensure that the Board reflects the Charty's commitment to 4LJality and diversity and the invofvemenl ol older people themselves. As and when required, trustees undertake a skills and experience audit ol current members to help identify where gaps exist and to guide future recruitment and selection requirements. Six new Irusteès were appointed during 2024125. INDUCTION AND TRAINING OF NEW TRUSTEES A trustee induction pack is maintained and contains a variety of Information. including Charity Commission publications and the gov&rnance documents relevant lo the trustee's role. These are mad8 availab19 to n and sèrving trustees through sofiware designed lo manage access to all materiais which truslees require, including all meeting papers and notes. New trustee onFKJarding sassions were held with new Board members including key staff and current trustees. KEY MANAGEMENT REMUNERATtON The board of trLJStees makes d8cisions as to the pay of key management personnel after giving dLJe consideration to performance and Ihe requirements of the roles. RELATED PAFlEs In so far as it is compl&mantary lo the Charity's objects, the Charity is guided by both Ial and nationa policy and Initiatives. This includes: NATIONAL POLICY AND GUIDANCE". Safeguarding Vulnerable Groups Act (2006) The Care Act (2014) LOCAL POLICY AND GUIDAE. 4 Local Aduft Saleguarding Boards "Saleguarding AduHs Policy (2020)" IOW Council's Adult Social Car6 "Care Close to Home" Strategy IOW Dementia Strategy IOW Carers Strategy Age UK Isle of Wight are represented in Isle of Wight strategic and operationd multi-agency lonjms relaled lo our core purpose and articles. This includes-. IOW safeguarding Adults Board IOW Volunlary Sector Forum Dementia Strategy Implem6nlation Board Demantia StratY Group- Carers Stralegy Group Southeast Regional Congress Age UK Page 7
AGE CONCERN ISLE OF WIGHT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 AGE UK BRAND PARTNERSHIP AGREEMENT: Age UK Isle of Wight is a local, independent charity, separate from thè nationally known Age UK. The charity works together wtth Age UK and the wider Age UK nelwork. in a 5pIrft of collaboration and mutual supporl to achieve common goals. A Netwod( Partnership AgreeEnt took effect in early 2025. RISK mANAGEmEr Trustees actively rewew Ihe Charity's rt5k register at both Finance and Risk Committee meetings and Trustee Monitoring Meelings. Risks are rated according to both fikelihood and impact and corg controls. and additional mitigating actions are agreed to reduce the likelihood or severity where possible to within tolerabla levels. During this year the key risk themes identsfied related to: Flnancial sustainability With the w)tertbal ending of key seriices contract funding and an increased ndraising tsrg8t. Concern over staff recruitment and retention relating to the impact on morale regarding wtential loss of funding. A Charity Business Continuity Plan is in place with schedUd reviews. BOARD AND COMMIThEE STRUCTURE The Charity has a Trustee Board currently comprising of 10 members who are responslble for tho overall governance and strategic direclion of the Charty, and who come from a variety of backgrounds Televant to the work of Age UKIW. From March 24, the new Charity Articles and Govemance Rules allow lor the minimum number of Directors (also referred to as Trustees) to be 3. however the Charity's internal Governance Flules specify that Trustees feel more comfortable wilh a minimum of 5 and {unless otherwis8 detemiined by ordinary resolution) subject to a maximum of 10. axcepl duriw transitional periods beeen recruitmen1ndUction and anticipated retirements from the Board, to allow for continuty. Tnjstee Monttorlng Meetings. the Finance and Risk Committee and the Fundraising and marMMS Strategic Panel ar& scheduled four times each year. Additional meetings are arranged when needed to discuss urgent business. The Chief Ofticer is Ms. M Bunce. Mrs. Amy Gallop. thè Company Secretary, stts on Ihe Board but has no voting rights. ORGANISATIONAL STRUCTURE Th8 day-to-day operation of Age UK Isle of Wight is delegatsd by the Board of Trustees to the Chief Officar, Finance Manager and Team Leads to deliver the seM¢8S specrfied. meet slrategic objectNes, and ensure sustainabillty is achieved. QUALITY MANAGEMENT The Gharity continued to maintain the Age UK Charity Quality Standard {GQS). It certifies that our organisation is well govemed and managed: has a clear direction and stra1eoy" and is committed to ensuring the well-being and safety of older people. our staff. and volunteers. In 2023-24 Age UK Isle of Wighl achioved Ihe Age UK Qualty Marque for Information and Signposting standards. Page 8
AGE CONCERN ISLE OF WIGHT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 REFERENCE AND ADMINISTRATIVE DETAILS REGISTERED COMPANY NUMBER 06057797 (England and Wales) REGISTERED CHARITY NUMBER 111871 REGISTERED OFFICE St. Thomas House 17 St. Thomas. Squar& Newport Isle of Wight P030 1SL TRUSTEES L Buckman (appointed 25.07.191 C J Edwards (appointed 22.5.23) G F Read (appointed 30.08.22) K A Marriott (appointed 5.6.23) S R D Bailey {appointed 19.7.23) W Young {appointed 20.7.23} J Hicks lappoinled 8.5.24) (resigned 27.5.24) H M Bentley lappoint8d 27.6.24) M Bostock (appointed 27.6.241 S Coleman {appointed 27.6.24) M Huxtable (appointed 8.7.24} M S Pearl (appointed 27.6.24) {resignation 05.05.25) Pag8 9
AGE CONCERN ISLE OF WIGHT REPQRT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 COMPANY SECRETARY A Gallop AUDITORS MC Audtt Limited statutory Auditors Station House North Street Havant P09 1QU BANKERS Barclays Bank UK PIC 102 St. James. Streèt Newport P030 1UP The Charity Bank Ltd Fosse House 182 High Street Tonbridge TN91BE CHIEF OFFICER Ms. M Bunce Page 10
AGE CONCERN ISLE OF WIGHT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF TRUSTEES, RESPONSIBILITIES Th8 trustees {who are also the directors of Age Concem Isle of Wighl for the purposes of company law) ar8 responsible for preparing the Report ol the Trustees and the financial slatements in accordance with applicable law and United Kingdom AlOnting SLqndards (United Kinglom Generally Accepted Accounting Practice). Company law requires the trustees to prepare fina[al statemenls for each financial year which give a true and lair view ol the state ol affairs of the charitable company and of the incoming resources and application ol resources, including the income and expenditure, of the charilable company for that period. In preparing those financial statemanls, the Irustèes ar8 required to select suitable accounting policies and then apply them consistentty; obsgwe Ihe melhods and principles in the Gharlty SORP; make judgements and estimales that are reasonable and [dent. prepar& thè financial statements on the going concern basis unless it is inappropriate to presume that Iha charitable company will continue in business. Thè trustees are responsible lor keeping proper accounting records which disclose with reasonablo accuracy at any time the financial posilion of the charitable company and to enable them to ensure Ihat the financial statements comply with the Companies Act 2006. They are dso responsible for safeguarding the assets of the charilable company and hence for taking reasonable steps for the prevention and deteCtn of fraud and other irregularities. As far as tha trustaes ar8 awa. there is no relevanl au(rrt information ofwhich th& charitable companvs auditors are unaware" and the trustees have taken all steps that they ought to have taken to make thems61v8s aware of any relevanl audit information and to eslablish that the auditors are aware of Ihat intormation. AUDrroRS Tha auditors. MC Audit Limited. will proposed for re-appointment at the forthcoming Annual General Meeting. 3.I.1..1..1..25..... and sign on tis behalf by: Approv&d by ordar of Ihe board of trustees on....... ead- Trusl Pagè11
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF AGE CONCERN ISLE OF WIGHT Opinion We have audited the financial statements of Age Concern Isla of Wighl (the 'charitable company? for the year ended 31 March 2025 which comprise the Statement of Financial Activities. th8 Balance Sheet, the Cash Flow Slatement and notes to th8 financial slatemenls, including a summary of signrficanl accounting policies. The financial reporbng Iramework that has been applied in their preparation is appllcable law and United Kingdom Accounting Standards (United Kingdom Gen8ratly Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the chariLiblè company's affairs as al 31 March 2025 and ol its incomlng resources and application of resour$, including tts In)rne and 8xpenditure. for the year then have been property prepared in accordance with Unitgj Kingdom Generally Accepied Accountlng Practica., and have been prepared in accordance with the requirements of the Companies Act 2(h)6. Basis for opinion We conducted our aLKlit in accordan with Inlernational Standards on Auditing (UIQ (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in thg Auditors, r8sponsibilities for the audtt of the financial stalements section of our report. We are independent of the ¢haritabl& company in accordance with the ethical rLx]uirements that are relevant to our audit of the financial statemenls in the UK. including the FRG'S Ethical Slandard, and we have fulfilled our other ethical responsibiltlies in accordance with these raquirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng lo golng concern In auditing Ihe linancial statements, we have concluded Ihat the trustees. us8 of the going concem basls of accounting in th& preparation of the financiai statemenls is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, individua15y or collectively, may cast significant doubt on the charilable company's ability to continue as a going concem for a period of al least Iwelve months from when Ihe financial statements are authorised for issue. Our responsibilities and the responsibilitie5 of the Irustees with respect to going concem are described in the relevanl sections of Ihis report. Other matter The financial statements ol the entity for Ihe y8ar ended 31 March 2024, were audited by anolher auditor who expressed an unmt)dilied opinion on those statements on 14 November 2024. Other information The trustees are responsible for Ihe other intormation. The other information comprlses the information included in the Annual Report, other than the linaTKial stalements and our Report ol lh8 Independent Auditors thern. Our opinion on the financial statements does not cover the other information and, except to the extent otherwisa &xplicitly stated in our report, we do not express any fomi ot assurance conclusion thereon. In conneclion with our audit of the financial stalements. our responsibilty Is to read the other Information and, in doing so. consider whether the other information is materially inconsistent with the financial statemants or our knowlgdge obtained in the audit or otherwise appears to b8 materially misslated. If we identify such materlal inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstalemant in the financial stat8rnents themselves. If. based on the worf( we have performed. we conclude Ihat there is a material misstatgment of this other information, we are required to report that lact. We have nothing to report in this regard. Opinions on other mallers prescrlbed by the Companles Acl 2006 In our opinion. based on the work undertak8n in the course of the audit- the information given in the Report of the Trustees for the financial year for which the flnancial statements are pr8pared is consistent with the ftnancial statements. and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Page 12
REPORT OFTHE INDEPENDETr AUDITORS TO THE MEMBERS OF AGE CONCERN ISLE OF WIGHF Matters on which we are required to report by ex¢eptlon In the light of the knowledge and understanding of Ihe charitable company and its 8nvirDnment obtained in Ihe coursa of the audit, we have not identified material misstatements in th8 Report of tha Trustees. We have nothing to report in respect of the following matters where Ihe Companies Acl 2006 requires us to report to you if. in our opinion= adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not Vistted by us,. or the financial statements are not in agreement with the accountiw re(x>rds and relums. or certain disclosur8s ol Iruste6s' ramuneration specified by law are not made., or we have not received all the information and explanations we require for our audit.. or the Irustees were not enlitled lo take advantage of the small companies exemption fiom the requiremant to prapare a Strategic Report or in preparing ihe Report of the Trustees. Responslbilllles of trnstees As explained more lully in the Statement ol Truslees. Responsibilities. Ihe trustees (who arg also the éireclDrs of the charitab19 company for th8 purposes of company law) are responsible for the preparation of the financial slatements and for being salisfied that they give a true and lair view. and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are tr8 from material misstatam8nl. wh8th8r due to fraud or error. In preparing the financial statements. the truste8s are responsible for assessing the charitable company's ability lo continue as a going concern, disclosing. as applicable, matters related to going concem and using the going concem basis of accounting unless the truslees either intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. Page 13
REPORT OF THE INDEPENDEPU AUDITORS TO THE MEMBERS OF AGE CONCERN ISLE OF WIGHT OUT responslbllllles lor the audtt of Ihe tlnancial slalements Our objectives ar8 to obtain reasonable a55urance aut whether the financial statements as a whole ar& free from material misstatement. wheth8r dLSe to fraud or error, and to issue a Report of the Indap8ndent Auditors Ihat includes our opinion. Roasonable assurance is a high level of assurance, but is not a guarant88 that an audit conducted in accordance with ISAS {UKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in Ihe aggregate, they could reasonably be èxp8Cted to influence lh8 econoTlliC decisions of users taken on the basis of these financial statements. The extent to which our proc8dures are capable of detecting irregularities, iluding fraud is d&lailed below: From discussion with management arKI those charged wilh govemance information aboul the entity is documented to assess the actrvity within the organisation. We discuss management's assossment of risk In respect of irregularities, fraud and going concern. Based on these discussions and our own assessments we determined thal Ihe key risk areas were incoma recognition in respect of cut off issues and manag8m8nt override concerning the Size of the organisation. We set financial statement materiality Ve7 based on the level of income. As a not for proftt organisation raising income is its primary focus which is why income wa5 used to detemiine the level of materlality- Our overall assessment of risk was used to dètermine performance rnateriality at an appropriate level. Substantive audit tests were d8signed after assessing and performlng walkthrough tests. The walkthrough testing confirmed documented systems which have b8en d8signed to act as a preventative ffleasure against Iraud and error which ¥ipear to be operating as documenled. Substantive testing tested a sample of the population. representative of the population, to identty errors. The testing did not identity any material misslatements In areas tested. Audit substantive tests concluded no material errors over tha key risk areas of InMe racognition and management override. The audit considers the organisation is not exposed to material risk of error as a rasLtIt of assessing laws and regulations that are appropriate to the organisation. Management assessed there is no going concam iisk. The audtt Ejndertook a review of budgets. manag8ment accounts and the review of board minutes and came to the same Conclusion as management. A further description of our responsibilitigs lor the audit of the financial statements is located on the FTnan¢ial Reporting Council's websrte al www.frc.org.uklauditorsresponsibilit18s. This description forms part of our Report of the Independent Auditors. Page 14
REPORT OF THE INDEPENDENT AUDoRs TO THE MEMBERS OF AGE CONCERN ISLE OF WIGHT Use of our report This report is made solely to the charitable company's members. as a body. in accordance with Chapter 3 of Part 16 of lh8 Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to slate to them in an auditors. report and for no other purposg. To the fullest extent pprmitted by law, we do nol a¢pt or assume responsibility to anyone other than the charitable company and the charitable company's members as a body. for our audit work, lor this report. or lor the opinions we have fomied. Stuart Mackie (Senior Statutory Auditor) for and on behalf of MC Audil Limited Statutory Auditors Station House North Street Havant Hampshire P09 1QU Page 15
AGE CONCERN ISLE OF WIGHT STATEMEwf OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 2025 Total funds 2024 Total funds Unreslricted Restricted funds funds Noles INCOME AND ENDOWMENTS FROM Donallcns and legacies 173,228 173,228 123.356 Charitable activities Enhancing and supporting lives 695.573 388,384 1,083,957 1.292,675 Other trading actwltles Invgstment income 3.521 16.648 3.521 16,648 37,607 15,378 Total 888.970 388.384 1,277,354 1469.016 EXPENDITURE ON Raising funds 35,5 35.590 56.066 Charllable actlvltles Enhancing and supportirKJ lives 950.652 451.078 1.401,730 1,529,446 Other 607 Total 986.242 451 078 1.437 320 1,586.119 Net gains on investmenls 440 NET INCOMEI(EXPENDITURE) Transfers between funds (96,832) 20,712) (62,694) 20,712 (159,5261 {117.103) Net movement in funds (117.544) (41.982) (159.526) {117,103) RECONCILIATtON OF FUNDS Total funds brought forward 1.049,557 48,800 1,098,357 1,215,460 TOTAL FUNDS CARRIED FORWARD 932,013 6,818 938,831 1,098.357 Tha mtes form part of these financial statements Page 16
AGE CONCERN ISLE OF WIGHT BALANCE SHEEr 31 MARCH 2025 2025 2D24 Notes FIXED ASSETS Tangible assets Investments 14 15 2,521 500,292 230,281 502,813 230,281 CURRENT ASSErs D8btors Cash at bank 16 84.370 462.037 60.784 993.491 546.407 1.054,275 CREDITORS Afflounts falling due within one year 17 (110,389} {98,368) NET CURRENT ASss 436.018 955,907 TOTAL ASSETS LESS CURRENT UABILITIES 938.831 1.186,188 CREDrroRS Amounts falling due after more than one year 18 {87,831) NET ASSErs 938.831 1,098,357 FUNDS Unrestricted funds Reslricted lunds 932,013 6,818 1,049,557 48.800 TOTAL FUNDS 938.831 1,098.357 These financial statements have been prepared in accordance with the provisions applicable lo charitablo companies subject to the small companres regime. The tinancial statements were approved by the Board of Truste8s and aulhorised for issue on l .l.1..1.1.5............... and were signed on its behalf by: éad - Trustee The notes form part of these financial statements Page 17
AGE CONCERN ISLE OF WtGkrr CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activFties Cash generated from operations 157.417 11.453 Net cash (used In}Iprovided by operating activities 157,41 11.453 Cash flows from investing aclivities PUhaSe of tangibl8 fixed assets Purchase of fixed asset investments Sale of tangible fixed assets Sale of fixed ass&t investments Interest received 12,778) (500,000) 203.615 440 16.648 15,378 Net cash (used in)Iprovided by invesling activili8s 279.29 12.600 Cash flows from financing aclivilies Loan r8payments in year Net cash used in financing activities 94.740 13,188 Change in cash and cash equlvalenls In the reporting perlod Cash and cash equivalents al the beginning of the reporting period {531,4541 10.865 993.491 982.626 Cash and cash equNalènts at the end of the reportlng perlod 462.037 993.491 The noles lorm part of Ihese flnancial slatements Page 18
AGE CONCERN ISLE OF WIGHT NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 RECONCILIATION OF NET EXPENDrruRE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net expenditure lor the reporting period (as per the Stalernenl of Flnancial Activltles) Adjuslments for". Depreciation charges Losses on investments Loss on disposal ol fixed assets Interesl received Loan inter8st paid Gain on Investments Ilncreaselldecrease in debtors Increase in creditors 1159,526) {117,103} 10.813 1440) 13,332 (16,648) 6,029 718 (15,378) 8,168 (292) (23,586) 18,930 93,557 35,462 Nel cash (used in)Iprovided by operations {157.417) 11,453 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.24 Cash flow At 31.3.25 Net cash Cash al bank 993.491 531.454) 462,D37 993.491 531.454 462,037 Debl Dgbts lalling due within l year Debts talling du8 aft8r 1 year 16.909) 87.831 6.909 87.831 94.740 94,740 Total 898.751 436.714 462.037 The notes form part of Ihese financial statements Pag219
AGE CONCERN ISLE OF WIGF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTJNG POLICIES Basis ol preparing ihe financial statements The finan¢ial statements of the charttablè company. which is a public bengfit gntity undar FRS 102, have been prepared in accordan wilh the Charities SORP (FRS 102) 'Accountlng and Reportlng by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Financla Rèporting Slandard applicablè in th& UK and Republic of Ireland IFRS 1021 (effective l January 2019)., Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements hava boen prepared under the historical cost convention. with the exception of inveslmenls which are included at mathat val, as modrft8d by the rgvaluation of certain assgts. Llmit8d by Guarantee Thè charitable company is a company limited by guarantee and has no share capital. The members of the company are each liable to contribute a MlMuM of £1 in the event of the company being wound up. The company is registered in England and Wales and is governed by its Articles of Association. Going Concem The financial statements have been prepared on a going concem basis. The Iruslees have assessed the charity's ability to corrtinue as a going concem and have a reasonable expectation that the charity has adequale resources lo continue in operatlonal exlstence for the foreseeable future, belng at least e8 months from the dal8 of approval of the financial statements. In making this assessment, the trustees have considered the charity's financial posilion, cash flows, and future funding commitments. The charty has prepared forecasts and projections which demonslrate that it is abla to meet its liabiltties as they fall due. Thesa forecasts include reasonable assumptions about tha level of incom8 expectad from donations, grants, and othèr funding sources. Critical accounting judgements and key sources of eslimation uncertainty In the preparation of these financial statements. the Trustees have not made any critical accounting judgements that have a significant effect on the amounts recogntsed in the financial statements. No key sources of estimation uncertainty have been identified that would have a material impact on the carrying amounts of assels and liabilities. Income All income is recognised in the Slatsmgnl of Financial Activilies once the Charity has entitlement to the funds, it is probable thal the income will be received and the amount can be measured reliably. Voluntary inc£Jme including donations and grants are recognised when recetvable. For legacies entitlement is taken on a case by case basrs on receipt or where the charity is aware of an impending distribution and Ihe amount can be measured reliab. Where legacies have been notified or the charity is aware of the granting of probale, and thg crilaria for income racognition has not be8n m8t. then tho18gacy is treated as a contingènt asset and disclosed if material. Income from collections and fundraising is recognised on receipt of funds. Grant income is often subject to perlormance related conditions. and where this is the case the resulting income is recognised as income from charilable activities tp the extent that the performance conditions have been met at year end. Income arising from the provision of services is recgonised on completion of services giving rise to the income. Interest recewable is recognised over the period that it is accrued. Page 20 continued...
AGE CONCERN ISLE OF WIGHT NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES - contlnued Expendltur Liabilities are recognised as exwnditure as soon as there is a legal or constructive obligation committing the charity to Ihal expenditure. il is probable thal a transfer of economic benelils will be required in settlement and the amount of Iho obligation can be measured reliably. Expenditure is accounted lor on an accruals basis and has been classified under headings that aggregate all cost related lo the category. Where costs cannot be directly attributed to particular headings they have baen loCated lo activities on a basTrs consislent with the use of resources. Tangible tixed assets Tangible fixed assets are measured at cost less accumulaled depreciation and any accumulated imp?irmgnt losses. Assets costing less than £1,000 are not capitaiised. Deprecialion is provided at the lollowing annual rates in order to wrile off each asset over its &Stimat useful life. Land and buildings Plant and machinery nol provided - Over 4 or 5 years on cost The Iruste8s are ol the opinion that the residual value of the freehold buildings will not be less than cost and Iherefore th8 Ireehold buildir¥Js are not depreciated. The gain or loss arising on Ihe dlsposal of an assel is determined as the differenGe between the sale proceeds and the carrying valu8 of the asset. and is recognized in inoome or expendilure for the year as appropriate. Taxation The charity is axompt from corporation tax on its charitable activities. Fund accounting Unreslricted funds can be used in aCcOrdae with the charitable objectives at the discretion of the Irustees. Restricted funds can only be used for particular restrTCted purposes within the objects of the charty. Rastrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nalure and purtKJse ol each fund is induded in the notes to the linancial statements. P8nsion costs and other posl-retiremenl benefits 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. Trade and olher debtors Short tem debtors are measured at Iransaclion prtce, less any impairment. Loans receivable are measured inilially at lair value, net ol transaction costs, and are measured subsequently at amortised cost using the effective interest method. less any impairment. Cash and cash equivalents Cash and cash equivdents Gomprise cash at bank and on hand. deposits wtth banks and other short- term highly liquid investments and bank overdrafts. In the balare sheet, bank overdrafts are shown wtthin borrowir)gs or current liabilitie5. Trade and other credllors Short term trade credttors are measured at the Iransaction piice. Other linancial liabilities. including bank loans. are measured initially at fair value. nèt of transaction costs. and are measured subs8quantly at amortised cost using the eflectivo int&rest meth(MJ. Page 21 continued...
AGE CONCERN ISLE OF WIGHT NOTES TO THE FINANCIAL STATEMETrtrs - continued FOR THE YEAR ENDED 31 MARCH 2025 DONATIONS AND LEGACIES 2025 2024 Donations Legacies Grants 44,472 115.589 13,167 33.300 67,269 22.787 173,228 123,356 OTHER TRADING ACTIVITIES 2025 2024 Fundraising avants INVESTMENT INCOME 2025 2024 Deposit account interest 16,648 All investment income is derived from assets hekl In the United Kingdom. INCOME FROM CHARABLE ACTIVITIES 2025 2024 Activity Hospilal Care and Community Contract8d services income Just AboLrt You Age Friendty Island Enhancing and supporting lives Enhancing and suprting Itves Enhancing and Suprting Irves 388.384 695,573 601,580 691,545 450) 1.083.957 1,292,675 RAISING FUNDS Ralslng donations and 18gacies 2025 2024 staff costs Fundraising Costs 24,649 1D,941 24,730 35.590 56,066 Page 22 Continued...
AGE CONCERN ISLE OF WIGHT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 CHARITABLE ACTIVITIES COSTS Direct Costs (see note 8) Enhancing and suptx)rting Itves 1,401,730 DIRECT COSTS OF CHARITABLE ACTIVITIES 2025 2024 Staff costs Tru51ees' expenses Employee Related Costs Volunteer Recruttment And Exp Direct Project Cos Premises Costs Office Costs Transportation And Cosls Bank Charges And Interest No desciiplion Auditors. Remuneration Legal Ané Professional Fees Grant Repayment Depreciation Loss on sale of assels 1,185.244 1.249,040 510 27,795 1,945 95,495 14,692 59,253 15,932 9,011 13,179 2,358 22,910 13,957 65,599 17,220 1,573 837 10,800 43.908 11,1S2 13,394 24,470 6,029 718 10,813 13,332 1.401.730 1,529.446 NET INCOMEI(EXPENDITURE) Net incomel(expendttura) is slated after charg1/(crediting). 2025 2024 Depreciation - owned assets Deficit on disposal of fixed assels 10.B13 13,332 6,029 718 10. TRUSTEES. REMUNERATION AND BENEFITS There were no tTUStees' rernuneration or olher benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Truslees. expenses During the year zero Irust8es {2024: 3) ware rgimbursed out ot pocket gxpgns8s for a total of £nil 12024- £510). Page 23 conlinued...
AGE CONCERN ISLE OF WIGHT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 11. srAFF COSTS 2025 2024 Wages and salaries Social security costs Other pension costs 1.124.657 67,894 1.189.782 67.212 16.776 1,209,893 1,273,770 The average monthly number of employees during the year was as follows: 2025 2024 14 71 Managerial and admin Operationa] 69 78 No employees received emoluments in excess of £60.000. KEY MANAGEMENT PERSONNEL REMUNERATION AND BENEFITS The charty considers its key management personnel to comprise the Chief Officer, Financial Controller {formerly Generd Manager), and Finance Manager. The lotal remuneration and bgnglits received by the threg kgy management personngl oparating during 2024125 was £85,349 {2023124.' two key manag8ment P8rsonn81 £70.842}. Remuneration includes gross salary, employer national insurance contributions, employer pension contributions. and taxable benefits in kind. 12. COMPARATIVES FOR THE STATEMEFTf OF FINANCIAL ACTIVITIES Unrestricled funds Restricled funds Total funds INCOME AND ENDoWMEfS FROM Donations and legacies 122.905 451 123,356 Charitable aelivities Enhancing and supporting lives 624.619 668.056 1.292.675 Olher trading activff(ies Investment income 36.89) 717 37,607 15.378 Total 799,792 669,224 1.469.016 EXPENDITURE ON Raising funds 56,066 56,066 Charitabl8 aclivitl8S Enhancing and supporting lives 786,328 743,118 1,529,446 other 132 475 607 Total 842.526 743.593 1.586,119 NET INCOME/{EXPENDrruRE) (42.734) {74,369) {117,1D3) Page 24
AGE CONCERN ISLE OF WIGHT NOTES TO THE FINANCIAL STATEMENTS - Conllnued FOR THE YEAR ENDED 31 MARCH 2025 12. COMPARATIVES FOR THE sTATEmEr OF FINANCIAL AcTIVlEs - continu8d Unrestricted Restricted funds funds Total funds Transfers belween funds 118.025 118.0251 N8t movement Jn fund5 75,291 {192,3941 (117,103) RECONCILIATION OF FUNDS Total lunds brought forward 974,265 241,195 1.215,460 TOTAL FUNDS CARRIED FORWARD 1.049,556 48,801 1,098,357 13. PRIOR YEAR AI)JUSTMENT 11 was noted that wilhin prior years, expenditure related to restricled funds were Inc0eCtlY accounted for as unrestrictad which m&ant that thèra was no movemenl in certain restricted funds. Management have within the current year identified this and noted that it relates to prior financial years. This has been corrected retrosFECtively and does not have an 8ff8Ct on any lin8 ileffl in the flnancial statements other than funds. 14. TANGIBLE FIXED ASSETS Freehokj propety Plant and machinery Totals COST At 1 April 2024 Disposals 214.918 214,918) 166.487 8,6411 381.405 223,5591 At 31 March 2025 DEPRECIATION At 1 April 2024 Charge for year Eliminated on disposal 151.124 10,813 151,124 10,813 6,612) At 31 March 2025 155,325 155.325 NEf BOOK VALUE At 31 March 2025 2,521 2,521 At 31 March 2024 214,918 15.363 230,281 Page 25 contlnued...
AGE CONCERN ISLE OF WIGHT NOTES TO THE FINANCIAL STATEME1s . conlinued FOR THE YEAR ENDED 31 MARCH 2025 1 S. FIXED ASSET INVESTMEKrs Listgd investments MARKEf VALUE Additions Revaluations 500,000 292 At 31 March 2025 500,292 NEf BOOK VALUE At 31 March 2025 500,292 At 31 March 2024 There were no investment assets outside the UK. 16. DEBTORS: AIAOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors Prepayments and accrued income 77.535 6,835 49.572 11,212 17. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2025 2024 Bank loans and overdrafts (see note 19) Trade creditors Social security and olher taxes Other creditors Accruals and defeed income Deferred grants 6,909 11.240 16,822 4,46D 39.590 19.347 22,500 8,921 4,614 46,094 28,260 110389 In the 2024 ¢omparalive, the Social security and other taxes balan was re-classified in these financial statements as they had originally been included within trade creditors. DEFERRED GRANT INCOME Deferred income is included wilhin other creditors falling due within one year and has arisen as a result of performance-related conditions on grants nol beirwJ fulfilled at the r8POrting dat8 and therefore unconditional entitlement to the income has rt passed to the charty at the year end. 2025 2024 Deferred income as at 1 April Income released during the period Income dèf8rred during the reportiro period 19,347 {19.347) 28,260 10.000 110,000} 19,347 Deferred income as at 31 March 28,260 19,347 Page 26 contlnued,..
AGE CONCERN ISLE OF MGHT NOTES TO THE FINANCIAL STATEMENTS - Contlnued FOR THE YEAR ENDED 31 MARCH 2025 18. cREDORS. AMouFifs FALUNG DUE AFfER MORE THAN ONE YEAR 2025 2024 Bank loans {see note 19) 87,831 The bank loan, originally repayable in monthly instalments over a period of 20 years from the date of the initial drawdown in 2013, bore interest at a rate of 3Yo above the base rate. The loan was ftJlly repaid during the current linancial year. 19. LOANS An analysis ol the maturity of loans is given below= 2025 2024 Amounts falling due within one year on demand-. Bank loans 6,909 Amounts lalling belwèèn on& and two years: Bank loans - 1-2 years 7,509 Amounts falling due between Iwo arKI five years: Bank loans - 2-5 years 26,673 Amounts falling due in more than live years- Repayable by instalments: Bank loans more 5 yr by inslal 53.649 LEASING AGREEMENTS Minimum lease payments ut7der nOnanlIable operaling leases fall due a5 follows: 2025 2024 Within one year Beeen one and five years 20,337 67.462 837 1.674 87.799 2.511 21. SECURED DEBTS The following secured debts are Includ wrfhin Greditors.. 2025 2024 Bank loans 94,740 The loan was secured on the freehold propety of the charty. The loan was repaid in full during the current year and the freehold propety was sold. Page 27 conts'nued...
AGE CONCERN ISLE OF WIGHT NOTES TO THE FINANCIAL STATEMENTS - Qonllnued FOR THE YEAR ENDED 31 MARCH 2025 22. ANALYSIS OF NEf ASSETS BETWEEN FUNDS 2025 Total funds 2024 Total funds Unrestricted Restiicted funds funds Fixed assets Inv8slments Current assets Current liabilities LDng term liabilities 2,521 500.292 539.589 (110.389) 2.521 500,292 54S.407 (110,389) 230,281 6.818 1.054,275 (98,368) 87,831) 932.013 6,818 938,831 1,098,357 23. MOVEMENT IN FUNDS Net movement in funds Transfers betsyeen funds At 31.3.25 At 1.4.24 Unrestricled funds General fund Fixed assets fund Infrastructure investment fund Stitching fund Supporting staff post cowd Income Generating fund 752.087 230.281 46.594 7.741 12,854 (79,620) 112,842) {259,790) (214,918) (36,838) 412,677 2,521 9,756 6,767 (974) 13,396) 19,4581 500,292 500.292 1.049,557 (96,832) (20,712) 932,013 Reslricted funds Hewland fund Crisis team Dementia navigators Reaching communities Communlty unit Older persons mental health Care navigators IDT Hospilal, Gare & Communty 5.131 7.978 6.189 18.815 4.168 2.519 4.000 {2.313) {7,978) {6,189) (18.815) {4,168) (2,519) 1818 4.000 20.712 20.712 20,712 6,818 TOTAL FUNDS 1098357 159 526 938,831 Page 28 conlinued...
AGE CONCERN ISLE OF WIGHT NOTES TO THE FINANCIAL STATEMENTS - conlinued FOR THE YEAR ENDED 31 MARCH 2025 23. MOVEMENT IN FUNDS- conlinu8d Net movement in funds. included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds Goneral fund Fixed assets fund stitching fund Supporting staff post covid 882.203 (962.263) (12,842) {7.741) 3.396) 440 {79,620} {12,842} {9741 6.767 888.970 (986.242) 440 {96.8321 Restrfcted funds Hewland fund Crisis team Dementia navigalors Reaching communities Community unit Older persons mental health Hospilal, Care & Community (2,313) (7,978) (6,189) (18.8151 {4.1681 (2,519) 409.096 (2,313} (7.978} 16,189) (18.8151 (4.1681 12,5191 (20,712) 388.384 62,694 TOTAL FUNDS 1277,354 1.437.320) 159526 Page 29 continued...
AGE CONCERN ISLE OF WIGFrr NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 23. MOVEMEKf IN FUNDS- contlnued Comparatives for movement in lunds Net rnovemenl in funds Transfers beeen funds At 31.3.24 At 1.423 Unrestricted funds Ganeral fund Fixed assets fund Infrastructure investment fund Slitching fund Suppor1ing stafl post covid 674.311 234.251 46.594 1,960 17.149 {37,4721 (6.74n 115,248 2.777 752,087 230,281 46.594 7.741 12.854 5.781 4.295 974.265 (42.733) 11B.025 1.049.557 Restrlcted funds CCG car8 navigalors Prostale cancer care navigator Living well programme Digital inclusion project Household support fund Good neighbourhood Scheme Hewland fund Crisis team Dementia navigators Digital champions GPM Reaching communities Community unit Older persons mental health Care navigators IDT 18.727 10 3.761 9.177 {18.7271 {10) (3.7611 (9.176} (2.898) 120.120} (1,223) 119.943} 924 (18,886) {1,972) 9,179 {1.928} 1.237 12.924 {1) 2,898 20,120 6.354 27.921 17.293 841 1,971 9.636 6.096 1,282 138.126 5,131 7,97B 6,189 (12,028) 18,045 18,815 4.168 2,519 147 050 241.195 4.370 118.025 48.800 TOTAL FUNDS 1.215.460 (117,103) 1,098,357 Page 30 continued...
AGE CONCERN ISLE OF WIGHT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 23. MOVEMEMf IN FUNDS- conlinued Comparative net movement in funds. included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund Fbxed assets fund Stitching fund Supporting stalf post covid 793,806 (831,278) {6,7471 {2041 {37,4721 16,7471 5,781 4,295} 5,985 799.791 (842.524} (42.733) Reslrlcted funds CCG care navigators LNing wall programme Digitai inclusion project Household support ftjnd Good n&ighbourhood scheme Hewland fund Crisis leam Dementia navigators Digital champions GPM Reaching communitias Community unit Older persons mental heaith Care navigators IDT 118,727) (3,761) 19,175) {53,262} (60,690} (1,2231 (64,123) 1118,523) (36.887) 11,972) (146,691) (38,133) (27,810} 162 6181 {18.72n (3.761 } {9.176} {2,8981 (20,1201 (1.223) 119.943) 924 {18,8861 (1,972) 9,179 (1,928) 1,237 12,924 11) 50.364 40,570 44.180 119,447 18,001 155,870 36,205 29,047 175.542 669.225 743.595) 74.370 TOTAL FUNDS 1.469,016 1.586 119) 117.103) Unrestrlcted Funds Fixed Asset Fund This fund represents the net tN)ok value of fixed assets held for unrestricted use by Ihe charity. Depreciation is charged against this fund annuaNy. Infr8slru¢lure Investment Fund This designated fund has been sel aside to support future infrastructure investment and to allow for the replacement and enhanment of 8quipment. stitchlng Fund This designated fund was crealed from a donation received from the Insinger Foundation (Netherlands). net of any expenditurè applied against it. Supportlng Staff Post-COVID Fund D8signated by the Trustees to support statt wellbeing and development in recognilion of the ongoing effects of the COVID-19 parKlemic on team morale and capacity. especially given the continued increase in demand and client complexity. Income generatlng fund Designated by the trustees in order for the charity to generate more Inco by investing cash. Restricted Funds Pagg 31 ¢OnnUed...
AGE CONCERN ISLE OF WIGHT NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 FdlARCH 2025 23. MOVEMENT IN FUNDS - continued CCG Care Navigalors Funded by the Isle ol Wight Glinical Commissioning Group {CCG), this fund supports a team of Care Navigators providing person-centred. holislic care planning and coordination across all GP practiGes on the Island. facilitating over 1.500 clients to live independently and avoid health crises. Prostate cancer care navlgator Funded by Prostate Cancer UK for ong year. this Care Navigator role focused on supporting men wilh prostate cancer and their families. The project ended in August 2015 as Funding from Prostate Cancer UK was no longer available, as a result Age UKIW wll worf( with the fijnder with regards to the outstanding unspent lunds to support men through the care navigator programme. Llvlng Well Prograrnme This fund is supported through the Improved Bettèr Car8 Fund IIBCF) and enables partnership work batween four organisations to promole indepèndènt living for adults with 18arning disabilities. tnental health issues, older people, and carers. The project also receives referrals from Social Services for individuals who do not meet statutory thresholds. Digital Inclusion Project Funding to support Older people agad 50+, peopl8 living with learning disability, people living with mental health conditions, and carers by: 1. Developing the skills and knowledge of the voluntary sector workforce {bolh staff and Volunteers) lo support use of technology: and 2. Davgloping the ski118 and knowledge of people to use lèchnology to 8nable them to do things for themselves andlor seek appropriate support to do things lo supwrt independenl living for longer. Household Support Fund Funding to assist vulnerablè households with essenlial needs. including food, energy costs, boilar servicing or repairs. essentia] white goods. a1 toiletries. Good Neighbour Scheme Previousty funded under the Big Lottery proi8Ct, this scheme continues wtth separate funding io 8nab18 volunteers to provide friendty, reliable support lo old&r local residents. Hewland Fund Funding to assist vulnerable households with costs of essential white goods repairs or purchases and minor emergency home repairs. with awards up to £250. Crisi5 Team Funding to provide Care Navrgation support within the Crisrs team at St Mary's Hospital, employing communtty support slaff to help indtviduals remain at home and avoid hospital admission when appropriate. Dementia Navigalors and Older Persons Mental Health {OPMH) Funding for Dementia Care Navigators who promote self-confidence. wellbeing, and independenc8 in individuals diagnos] with dem8ntia or awaiting assessm8Frt, while also sut4)orting their families. Dlgtlal Champions Project Funding to deliver digital workshops. conduct home visits. and recruit additional volunteers and stafl, expanding outreach efforts to promote digital inclusion sarvices. Good Pra¢ll¢e Mentor Project (GPM) Funding to develop an Age Friendly Local Leaming Network, bringing senior leaders together to gmb8d Age Friendly Island principles into their organisations, strategic plans. Reachlng Communities Group Funding to deliver workshops island-wid& on online salety. online shopping. and access to medicai semces, alongside one-to-one in-person and online support to build digilal skills and confidence in older residants. Page 32 conlinued...
AGE CONCERN ISLE OF WIGHT NOTES TO THE FINANCIAL STATEMENTS. continued FOR THE YEAR ENDED 31 MARCH 2025 MOVEMENT IN FUNDS - continued Community Unit Funding for an ActNities Goordinator to provide social. physical. and cognilive activities at the hospital communfty unit, supporting clients. health and wèllbaing while awaiting discharg8 or residential placement. Care Navlgators Integrated Dls¢harge Team (IDTII Hospital, Care & Communlty Funding for Care Navigators based in hospital community wards, supporting patient discharge by ensuring patients and carers are aware of, and confident in accessing, appropriate cornmunity services and activf(ies post-discharge. 24. RELATED PARTY DISCLOSURES There were no rdated party transactions for the year ended 31 March 2025. 25. ULTJWtATE CONTROLLING PARTY The charitsble company is not under the control of another entity or any on& individual. 26. MATERIAL LEGACIES Legacy income is ollly included as incoming resources when the legacy has been re¢eivèd or when both the r8caipt and the amount is considered probable. As at the 31 st March 2025, the charity had been notified of Ihe following legacies, which have not bean recognised as incorne within the accounts: An èslat8 whgrg the charity are 8nlÈllèd to a one third share of 50°A of Ihe residuary e5tat8. An estate where the charity are currently entided lo a £5,000 share, bul where the amount is still uncertain due lo a polentiai claim against the estate which could reduce the va]ue of the cash gift. Page 33