Charity registratlon number 1126170 Company registratlon number 06655221 <England and Wales) AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustoes MrT N Davies Mrs M Awilliams Ms M Pickering Mrs M Thomson Ms K Smith Mrs J Langley Ms A Ogilvy Ms A Ledsharn Secretary Mrs K Crane Charlty number 1126170 Company number 06655221 Reglstered offlce Lewls House Swan Slr6el Flint CH6 5BP Indepondent examlner DSG Castle Chambers 43 Castle Streel Llverpool L2 9TL
AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) CONTENTS Page Trustées, repcrt Independent examln8Vs report Statement of financlal actlvllies Balance sheet Statement of cash flov Noles to the llnancial statements 9-18
AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Irust88s pres6nl thelr annual report and financial statements for the year ended 31 M8rch 2024. The financial slalements have beon prepared In accordance with Ihe accounting pollcles sel out In note 1 to the financial statements and comply wlh the charitable company's Memorandum and Articles of Associatlon, th6 Companies Act 2006 and "Accounting and Reportlng by Charities.. Slalement of Recommended Practlce applicable lo charllles preparing their accounts In accordance wilh Ihe Flnancial Reportlng Standard applicable in the UK and Republic of Ireland (FRS 1021" {effeclive 1 January 2019). Charlty Informatlon Ag6 Connects North East Wales IACNEWI was set up in 2001 orlglnally as Age Concern North East Walos and has now been eslabllshed for over twenly years. In that Ilmè ACNEW has grown to meet the needs of the Increaslng numbers of older p8opl8 over 50 in Wrexham County and Flintshlre. Objectlves and activltles ACNEW'S misslon is to support older people and their carers In having the best possible quallly of life, The charity operates as a non-proflt organisallon for the benefit of people who are 50+ living In Flln18hlre and Wrexham County Borough, ACNEW alms to achleve Ils mlssion by- Provlding responslve, person cenlred seNc8S to oldw people and their caTer8 Promoting safe and healthy living for older people Ralsing the image and profile of older people's life issu8S Working Sn partlcipalion and ¢o-operalion with other likeminded org8nisalions Continuously developlng the organisation in a sustainable, 6ffic¢ent, and effective way. The charity has specific objecllves that enable It lo achieve these aims - To provlde tlmaly and accurate Informatlon, advice, and other 8ppropri8te support on the range of goods and servlces available to older people and thelr carers. To advocale on b6half of older people, and actlvely seek to promote thelr v16ws at slr8tegic commlllees of all statutory and other government bodles. To maxlmlse the Income available to and for old8r peOe and thelr carers, Ihrough close and co-operatlve working with partner organlsallons when approprlala. To r88earch, Identtfy and r8ise awarèness of the unmel naeds of older people and Iheir car8rs locally. To develop a volunleer-base to complement the delivery of servlces. To promote the safely and securfly of older people in day-to-day Ilvlng. To support the good heallh and wellbeing of older people through promoting physlcal aclivlly, the consumpllon of 8 health promoting dlet, and any other aclivily that can conlribule to good mentallphyslcal health In older age. To promote the development of a wide range of181sure and social opportunllles for older people. 8spedally any whlch help lo bulld community cohesion ar)d break down lh8 barrl8rs between generations. To promole, Inillale, support, and develop a variety of methods to ensure that older peop18 are consulted and Included in decislons that are made about sèrvices and other matlers Ihal affect Iheir Ilves. Public benefit Tha trustees have paid du6 regard to guidance Issued by the Charity Commission in deciding what aGllvities the charitable Gompany should undertake.
AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevements and performance This was another positive year for ACNEW ryth continuing slrong demand for seNlce$, a good level of donallons received and Increased income from the Home Solulions Servi (part of ACNEW'S Soclal Enterprise). ACNEW was dellghled wlth Its athlevemenls and perforrnance across all seICe areas during 2023124. whlch inGluded Helping older people to maximlse thelr income by assisling appllcations for entitlement lo benefils such as Allendance Allowance, Pénslon Credil and Housing Beneflt. In 2023124 benefit enlit18menls galn6d for older people across Flinlshire and Wrexham Counly Borough reached £1,096,932. Assistlng over 245 clients weekly. fortnightly or monthly by delivering 10,232 hours of support over 6,916 appolnlments through tha Home Solutions service. Thls support covered cleaning, shopping, assisted visits and wmpanlonship, which enabled older people to remaln indep8ndenl and remain in Iheirown home. Providing 45 Toe Nail Cutting Clinics durlng 2023124 with over 200 clients atlanding gularlY. Both of ACNEW'S Old8r People's Floaling Support S8rvices assisted 155 seNic8 users w88kly, méeling their pèrformance targets wlth no volds. Donations income of £13.091 induded a fvrther £10,0 from the estate of Mr. Peter W, Jones. Thank you lo Bellls Brothers again for their continued supporl and hosllng the popular fundraislng Blngo evenlng on 7 Septembèr 2023., the event ralsed over £1.000 for the Charlty. Durlng the year ACNEW made a successful applicalion to The Moondance Foundation whlch allowed Ihe Charlty to fund an offlce-based advlsor to deal with Information and advice 8nquiries. ACNEW also recelved fundlng from Denblghshlr8 County Councll for new bl-lingual leaflets and promolional material. Flnanclal revlew Income for th6 year was £579,658 (2023: £534,732) and expenditure was £544,947 (2023., £446,592). Thls result8d in a 6urplus for Ihe yèar of £34,711 (2023.. £88.140), As at the 31 March 2024 the tolal unrestrlcted reserves of the charfly amounted to £358,007 {2023: £321,028). Although faced with challenging economlc condllions and widespread cost-of-llvlng pressures, ACNEW was able to Increase Its trading acllvily and aSSClated income In each quarter of 2023124 with the Home Solutlons servlcÈ returning Its bast ever annual Income total of lust over £219,0. Donations and legacles income was down on the 2022123 total bul well ahead of budgel wSlh total receipts of £13,091 recorded. Increased Income together wlth the easlng in enorgy costs and some reduced 8mployee expendiiure ¢ontribuled to lh8 overall surplus of £34.711 achleved for Ihe year, Reserves pollcy 11 is the policy of the ch8ritable company that unrestricted funds which have not been deslgn8ted for a specific use should be maintained al a level equivalent to between three and six month's expenditure. The Iruslees consider that reserves al Ihls level will ensure that, in the event of a significant drop In funding, they will be able to conllnue the charft8ble company's current activities while conslderallon is given to ways in which addldonal funds may be raised. This lev61 of reserves has been maintained throughout the year. The trustees hava assessed the rnalor risks lo which the charitable cnmpany Is 8xposed. 2nd are satlsfjed thal systams are in place to mttigale exposure to the major risks. Plans for futurè periods ACNEWS Revlew and Strategy meeting held was held on 14 Febwary 2023, The meeting focused on ev81uation of sérvices currently delivered by the Charity. Actions were agreed to review ar)d update all evaluation méthods during 2024125.
AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management The charitable company Is a company Ilmlted by guaranteo. The tNst8es, who are also thé directors for the wrpose of company law, and who seNed during the year and up to the date of signatur8 of the financial statements wore: MrT N Davies Mrs M A Williams Ms M Plckerlng Mrs M Thomson Ms K Smith Mrs J Langley Ms A Ogilvy MSA Ledsham ACNEW'S AGM on the 26 S8Ptember 2023 was allonded by Staff and Trustees. After the Annual AccoLtnts were presented by Kale Smllh (Treasurer) they were approved and Ihen slgned by Marjorie Thomson (Chalrl, Marjorie Thomson was re-elected as Chair, Mabyn Pickering 8s Vice-chair and Kale Smllh as TreasLJrer. Margaret Wllllams and Nell Davles reslgned as Trustees. All other Trustees were rwlected. Towards the end of 2023124 Paul Harris was tpIed lo the Board. ACNEW wishes to acknowfedge that all Trustees give their Ilme wlthout remuneration and thank them for their valuable contrlbullon. None of the Iruslees has any beneficlal Interest In tha company. All of the truste8$ are members of the company and guarantee lo contribute £1 in Ihe event of a winding up. Our staff Staffing levels were Impacted by the Cost[-lIvIng crlsls wllh a CC[pre of staff moving i)n to olher employmenl, ACNEW recrulted a Home Support Offlcer al the beglnnlng of Ihe financi81 year, to support cllents wlth hoardlng Issues In the County Borough of Wrexham. Rlla Jones retired from the Charfty al the end of March 2023: Rlta had been employed with ACNEW slnce 2006, slartlng Inltlally 8s a volunt88r. Best she$ lo Rita in her relir8menL Our volunteers Most of ACNEW'S volunteers support the telephone befriending service. The charlly currently has 6 volunteers. Acknowledgemenls The Board would like lo thank the following organisalions and individuals without whom il would not have been possible for the 8clivilies and successes described in this annual report lo have bèen delered.. Flinlshlre County Council Wrexham County Borough Council Welsh Govemm6nl Volunteer Bureau at FLVC and AVOW Wales Council for Voluntary Action (WCVA) The Department for Work and Pensions Walkins Smith (NWI Limited Clwyd Alyn Houslng Ysgol Maes Hyfryd Aga Connects Wales lan Llewelyn Jones Age Cymru Denblghshire Counly Council The Moondance Foundation Bellls Brothers
AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THF YEAR ENDED 31 MARCH 2024 The trustees. report was approved by the Board of Trustees. Mrs M Thomson Trustee 24 S8ptember 2024
AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF AGE CONNECTS NORTH EAST WALES I report lo the Iruslees on my examination of the financial stslements of Age Connects North East Wales (the charitable company) for the year ended 31 March 2024. Respohslbllltles and basls of report As tho Irusleas of the charitable company (and also its directors for the purposes of company lawl you ar8 responsible for the preparation of the financial statements in accordance with the réquirements of the Companies Act 2006 (the 2006 Acll. Havlng sallsfied myself that the financlal slatamenls of the charltabl8 company are nol requir8d to be audited under Part 16 of the 2006 Act and are eliglble for independent examlnalion, I report In respect of my examSnalion of the charitable company's financial statements caiiied out under section 145 of the Charities Act 2011 (the 2011 Act). In carrylng out my examinallon I have followed all the appltcable Dlrections gtven by the Charity Commlssion under socllon 145{5)(b) ol the 2011 Act. Independent examlner's statemenl Sinc8 Ihé charitable company's gross income exceeded £250,000 your examiner must be 8 membar of a body listed in section 145 of the 2011 Act. I conflm that l am qualified lo undertake the examinatlon because l am a member of the Instltue of Chartered Accountants in England and Wales. which Is one of the listed bodles. I have comp16ted my examin8llon. I confirm that no matters havé me to my attention in connection wllh the examlnalion giving me cause lo believe Ihal in any materi81 respect-. accounting records w8r8 nol kept In respect of the charitable company as requlred by sectton 386 of the 2006 A¢l', or the financlal slalemenls do nol accord wilh those records; or the financlal slatem6nls do not comply with the accounling requlrements of section 396 of the 2006 Acl other than any requirement that th8 accounts glve a tnJ6 and fair view which is not a matter consldered as part of an Independent examinallon: or the financial statements have not been prepared In 8ccordance wilh the methods and prfnciples of the Statement of Recommended Pracllce for accounting and reporting by charlties applicable to charities preparlng thelr accounts in ac¢ordance wilh th8 Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). I have no concerns and have come across no other matters in connectlon wlh the exaMInaOn to which altenllon should be drawn In thls report In or(ler lo enable a proper understandlng of the finanal statements lo be reached. Jean Ellls BA FCA CTA DSG Chartered Accountants Casu8 Chambers 43 Castle Street Liverpool L2 9TL Dated: 24 September 2024
AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcled Unrestrlcted funds funds 2024 2023 Notes Income frorn: Donatlons and legacies Charitable activitles Inveslments 13.091 563.056 3,511 40,397 493.625 710 Total income 579,658 534,732 Expendlture on: Charitable aclSvitie8 544,947 446,592 Tolal expendltura 544,947 446,592 Nèt Income and movemant In funds 34.711 88,140 Reconcillation of funds: Fund balances a11 April 2023 390,015 301.875 Fund balances at 31 March 2024 424,726 390,015 The notes on pages 9 to 18 form part of these financlal statements.
AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET ASAT31 MARCH2024 2024 2023 Notes Fixed assets Tangible assets 10 140.962 141.181 Currant assets Debtors Cash at bank and in hand 11 29,791 293,075 27,262 251,449 322.866 Credltors.. amounts falllng due wlthln on8 year 278.711 12 (39,102) (29.877) Net current assats 283,764 248,834 Total assets lass current Ilabilltles 424,726 390,015 Thè funds of the ¢harltable company Unreslricled funds Revaluation reserve 14 14 358,007 66,719 321,028 68,987 424,726 390,015 Tha charlteble company Is enlltled lo the exemptlon from Ihe audit requirament cont81ned In section 477 of the Comp8nles Act 2006. for the year ended 31 M8rch 2024. The Iruslees acknowledge their responsibilitles for complylng wllh the requirements of the Companies Act 2006 wllh respect to accounllng records and tho preparation of financial statements. The Iru$160s have nol required the ch8ritable company to obtain an 8udit of Its financial stslemenls for the y8ar In quasllon in aOrdanCe with s8clion 476. These flnancial statements have been prepared in accordance with the provtslons appllcable lo cornpanles subJect to the small companies reglm6. The financial statem8nts were epproved by the trustees on 24 September 2024 Mrs M Thomson Trustea Company registration numb8r 06655221 {England and Wales)
AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from operating activitles Cash genarated from operallons 42.328 93,409 Investlng actlvltles Purchasa of tangib16 flxed assets 5nvestment Income recelved (4,213) 3,511 (119) 710 Net cash {usad Inllgenerated from investing activlties (702) 591 Nat cash used In flnanclng actlvltlos Net Increase In cash and cash aqulvalents 41,626 94.000 Cash and cash equivalents at beglnnlng of year 251,449 157,449 Cash and cash equlva18nts at end of year 293,075 251,449
AGE CONNECTS NORTH EASTWALES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles Charity Informatlon Age Connects North East Wales is 8 privatè company limited by guarantee incorporated in England and Wa16s. The règistered office 18 Lewls House, Swan Street, Flint, CH6 5BP. The principal acliviliés of the charity are detailed in th8 Trustees, Report. 1.1 Accounting conventlon The flnancial statements hava been prepared in accordance with Ihe ch8ri1ab18 company's MemorandLrrn and Articles of Association, tho Companies Act 2006. FRS 102 "The Financlal Reporting Standard applicable in the UK and Republic of Ireland. fFRS 102") and the Charities SORP"ArLounting and Reportlng by Charlties: Slalemanl of Recommended Practice 8pplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland {FRS 102)" (effedive 1 January 2019). The charitable company is a Public Benefit Entily as delineLI by FRS 102. The financial slalemenls are prepared in sl6rllng, which is the funotlonal ¢urrency ol th8 chadlable company. Monetary amounts In thes6 financlal slalements are rounded to the ne8rest £. The flnancl81 stal8ments have been prepared under Ihe hlstorfcal cost cnnventlon, modifled to Include the rev8lug1ion of freehold propertles, Th8 principal 8ccounling pollcies adopted are sel out below. 1.2 Golng concern At the Ilme of approvlng the financlal slalem6nls, the Injslees have a reasonable expectation that the charllable company has adequate resources to conllnue In operallonal exlslance for the foreseeable future. Thus the trustees conlinue to adopi ihe going concern basls of accounting In prep8rfng th8 financial slalemenls. 1.3 Charitable funds Unreslrict8d funds are avallable for use al Ihe dlscretion of the trustees In furtherance of thelr char118ble objecllves. Restrfcted funds are sublecl to specitlc conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out In the noles to the flnancial statements. 1.4 Income Income is recognised when th8 charitable company is legally enliued lo it after any perfom8nce conditSons have been mel, Ihe amounts can be measured reliably, and it is probable Ihal income wlll be rèceived. The following specifiG policles are 8pplled lo parlEcular calegories of income: Voluntary Income is recolved by way of grants. donations and gifts and Is included in the Statement of Flnanclal Acllvities (SOFA) when receivable. Grants, where entillemenl Is not condltlonal on tho delivery of a specific perfomance by the charity, are recognlsed when the charity bècomes unconditionally entitled to the grant. Incomlng resources from granls. when related to performance and specific deliverables, are accounted for as the charfty eams the right lo consideration by its performance. Donated servIS and facllltles are included al the value to the charity where this can be quantlfied. The value of services provlded by the volunleers has nol been included in these accounts. Investment income is induded when recelvable. Incoming rosourc8s from charitsbl8 trading activity are accounled for when eamed.
AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles {Contlnuedl Legacies are r8cognlsed where there is entitlement, certainty of receipt and the amount can bè measured with sufficient reliability. 1.5 Expenditure Expendlture Is accounted for on an accwals basls and has been classified under headlngs that aggregate all costs related to the category. Where costs cannot be dlrecuy attrlbuted lo particular headlngs they have beèn 8llo¢ated to activitles on a basls consistent wilh Ihe use of resources. Costs of g8nerallng funds comprise Ihe costs associated with attractsng voluntary Income and the costs of tradlng for fundralsing purpose8 includlng the ¢harlt*8 provision of servlces. Charitable exp8ndlture comprlses those costs incurred by Ihe charlty In the delivéry of Its acllvilles and services for Ils ben8ficlaries. It Includes both costs Ihat can be allocated directly to such aclivllles and those costs of an indlrecl n81ure necessary to supporl them. Govemance costs include those costs 8S8ociated with meellng th8 constltutlonal and statulory raquiremenls of th8 charity and Sndude the audlt fee and costs Ilnked lo the strat8glc management of ihe charity. All costs are allocated batwean the expenditur8 categorise of the SOFA on a basis deslgned to reflect th8 use of resources. Costs relallng to 8 particular aclivity are allocated dlrectly- others are apportloned on an appropriate basls. 1.6 Tangible fixed assets Tanglble fixed assets are Inlllally measured at cost and subsequontly measured 81 cost or valuation, net of depr8ciallon and any impairment losses. Deprecl8tson Is recognis8d so as to wr118 off Ihe cosl or valuallon of assets less thelr resldu81 v81ues over Ihelr us8ful livas on the following bases: Land and buildlngs Fixture8, fittlngs & equlpment 50 years 3 years Slr8lghl Ilne d8preclalion is provided for on all property, furnitur8 and equipment wllh a finlte usoful life, wlth provision made from the first financial year follovmng acquisition. Thè galn or loss arlslng on the disposal of an asset Is detemined as ihe difference beSen Iha sale proceeds and Ihe carrying value of the assel, and is r8cognised in net incomellexpendilure) for the year. 1.7 Impairment of flxed assets At each reporting end date, the chari18ble company réviews Ihe carrying amounts of Its langlble and Intangible assets lo delermlne whether there is any indlcallon Ihat those assets have suffered an Impalrment loss, If any such Indi¢atlon exlsls, the recoverable amount of the asset Is estimated in order to determine the extenl of the impairment loss (if any). 1.8 Cash and cash equlvalenls Cash and cash equivalenls include cash in hand, deposits held at call with banks, other short-tomi Ilquid investrnenls wilh origlnal maturlties of Ihree ThKJnths or less. and bank overdrafts. Bank overdrafts are shown within borrowings In CUent liabilities. 10-
AGE CONNECTS NORTH EASTWALES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Aecounting pollcies (Continued) 1.9 Financlal Instruments The charltable company has elected to apply the provlslons of Secllon 11 'Baslc Flnanclal Instruments, and Sectlon 12 '0ther Fin8nclal InslTuments Issues, of FRS 102 to all of ils financlal inslrumenls. Financial Instruments are recognised In the charitable company's balance sheel when the chBrflaNe company becomes party to the conlraclual provis5ons of Ihe Instrument. Fln8ncial asséts and Ilabilltles are offset, wllh the net amounts pr8senled in the finandal stalements, when there Is a legally enforceable rfght to set off the recognis8d amounts and there is an Intentlon lo settl8 on a nel basis or to realise the asset and setue the liability simultaneously. Baslc flnancl81 assets Baslc financlal assels, which include deblors and cash and bank balances, ar8 Inltially measured at transaction prlce including Iransacllon costs and are subsequenlly carried al amortised cost uslng the effective Interest method unless the arrangement constitutes a flnancing transaction. where the Iransaclion is measured al the pres8nt value of the future r8celpls dlsGounteiJ al a mart<el rate of Interest. Flnan¢l81 assèts Classified as receivable wllhin ona year are not amortised. Impalrment of flnanclal assets Flnanclal assets, other than those held at falr value through income and expenditure, are assessed for Indlcalors of Impalrment at each reportlng dale. Flnanclal assets are impalred where thar8 is objecllve evSdence that, as a rèsult of one or more ovents Ihat occurred after the Inltlal recognlllon of the finandal assel, the estimated futur8 cash flows have been aff8cled. If an asset Is impalred, the impairment loss Is the differenc8 behveen the carrying amount and the pr8senl value of the eslim81ed cash Ifows discounted at the assel's original effective interest rate. The Imp81rm8nt loss Is recognised in not incomel(expendilure) for the year. If there Is a decrease In the impairment Ioss 8rtslng from an event occurring after the impairment was racognlsed, the Impairment is reversed. The reversal Is such that lh8 curr&nt carrylng amount does not exceed what Ihe carying amount would have been, had Ihe impaimenl not previously b8en recognlsed. The Impairment reversal Is rewgnisèd In nat incomel{expendlturel for the year. Derecognltlon of flnanclal assets Financi81 ass8ts are derecognis6d only when the conlraclual rights to the cash flows from the asset expire or are settled, or when the charitable company transfers Ihe financial asset and substantially all the risks and rewards of ownership to another enlily, or if some significant risks and rewards of ownership 8re relalned but control of the 8SSet has transferred to another paty that Is able to sell the asset in Its entirely lo an unrelated thlrd party. Saslc flnanclal118blllties Baslc financial liabilillbs, including creditors and bank loans are initially recognised al Iransactlon price unlass Ihe arrangement conslilules a fin8ncing transaction, where the debt Instrument is measured at the present value of the future payments discounted al a markel rale of interest. Financial liabilities classlfi6d as payable wlthln one year are not amortised. Debt Instruments are subsequently carrlad al 8m(Ytised cost. uslng th8 effecllve interest ralo method. Trsdo creditors are obligatlons to pay for goods or services Ihat have bean acquired in the ordinary course of operallons from suppliers. Amounts payable are classified as current liabllilies If payment Is due within one year or less. If not, they are presented as non-currenl liabilitles. Trade creditors are recognised inilially al transaction price and subsequenily measured at amortised cost using the effective interest method. 11
AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting poll¢les (Contlnued) Derecognltion of linancial Ilabllltlos Flnanclal Ilabllltles are derecognised when the charilable CoMpanS contractual obllgatlons explre or are discharged or c8ncelled. 1.10 Employee beneflts The cost of any unused holld2y entitlement Is recognised In the period in vthlch the employe8's servlces are received, Termination benefits are recognised immedlately 8$ an expense when Ihe charflable company Is démonstrably commltted to termlnate the employment of an employee or to provlde lermlnation benefits. 1.11 Retlyement benefits Payments lo defined contribution tIrement benefil schemes are ¢harged Bs an expanse 8$ they fall due. Income from donatlons and legacias Unrèstrlcted Unr8strlctéd funds funds 2024 2023 Donatlons and glfts 13,091 40,397 12
AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from charitable activlties Unrestrlcted funds 2024 Unre8trl¢ted funds 2023 Income from charftable activllles Service grants (see analysis below) 258,205 304,851 186,343 307,282 563,058 493,625 Service grants Fllnlshire County Council and Wrexh8m County Borough Council Age Cymru Asda Foundation Moondance Foundallon Other 290,135 1,600 296,065 1,600 1,506 10,409 2,707 8,111 304,851 307,282 Income from Investments Unrestricted Unrestricted funds funds 2024 2023 Interest recelvable 3,511 710 13-
AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expendlture on charltable activities Unrèstrlcted Unrestrlcted funds funds 2024 2023 Dlract C0618 Staff costs (see note 8) Depr8clation and imp2irment A¢llvilles undértaken dlrèclly 433,375 4,432 101,174 372,925 5,560 62,198 538,981 440,683 Share of support and governance costs (see note 6) Govern8nc8 5.966 5,909 544,947 446,592 Analysls by fund Unreslrlcted funds 544,947 446,592 Support costs allocated to actlvitles 2024 2023 Govemance costs 5,966 5.909 Analysed between: Audlt l independenl examination fees Account8ncy Chlef Offic8r 2,832 1,133 2,001 2,832 1,026 2,051 5,966 5,909 Trust8OS None of the trustees (or any persons nnected with them) received any remuneration or benefits from the charitab18 company during the y8ar. Durlng Ihe year. thè trustees recelved a tol81 of £nll {2023= £nil) in expenses from the charity. 14-
AGE CONNECTS NORTH EAST WALES {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employeas Tha average monlhly number of èmployees during the year was: 2024 Number 2023 Number Servlces Adminislrallon 32 31 Total 35 34 Employment costs 2024 2023 Wages and salaries Soclal se¢urily costs Other pension costs (See note 13) 392,935 18.778 21,662 337,123 15,733 20,069 433,375 372,925 Ther8 were no employees whose annual r8mun&r8tion was more than £60,000. Remun8ratlon of kay management pèrsonnel Th8 remuneration of key manag6menl personnel was as follows: 2024 2023 Aggregate compensatlon 54,810 52.342 Taxallon The ch8rfty is exempl from tax on Income and galns falllng wlthln secHon 505 of the Taxes Acl 1988 or secllon 252 of the Taxation of Chargeable Gains Act 1992 to the exlenl Ihal these are applied lo Ils charitable objecls. 15-
AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Tanglble flxed assets Land and bulldlng$ Flxtures, flitlng8 & oqulpm&nt Total Cost or valuation At 1 April 2023 Additions 150,000 10,197 4,213 160,197 4,213 Al 31 M8rth 2024 150,000 14.410 164,410 Depreclation and Impalmient Al 1 Aprll 2023 Depreciallon charged in Ihe yèar 10.227 3,409 8,789 1,023 19.016 4.432 At 31 March 2024 13,636 9,812 23,448 Carrylng amount Al 31 March 2024 136,364 4,598 140,962 Al 31 March 2023 139.773 1.408 141,181 Land and bulldlngs wllh a carrylng amount of£150,000 were revalued at August 2019 by Celt Rowlands & Co. Chartered SuNeyors, Independenl valuers not connected with the charltable company on the basls of market Value. The valuallon conforms to Int8rnatlonal Valuation Standards and was based on market transacllons at that tlme on arm's length temis for simllar properties. The Board has revlewed this value at 31 March 2024 and conslder It sllll approprlate to cary the value of the property at thi5 8mount. Al 31 March 2024, had the revalued assets been carrl8d at hlsloric cost less accvmulated depr8cl8tlon and accumulated impairment losses. thelr carrylng amount would have been approximately £71,718. 11 Débtors 2024 2023 Amounts falllng due wllhln ona year: Trade debtors Other debtors Prepaym8nts and accrued income 8,785 2,751 18,255 7,828 1,391 18,043 29,791 27,262 12 Credltors: amounts falling due wlthin one year 2024 2023 Qlher laxatlon and soclal security Trade creditors Accruals and deferred income 1,902 3,988 33,212 2.712 27.165 39.102 29,877 16-
AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Retirement bèneflt schemes 2024 2023 Deflned contributlon schemes Charg8 to profit or loss In respect of defined contribution schemes 21,662 20,069 The charftable compony operates a defined contribution penslon schème for all quallfylng employeas. The assets of the schem6 are held separately from Ihose of the charilable company In an Sndepondently admlnlslered fund. 14 Fund8 (unréstrlctad and revaluation reserve) The unrestricted funds of the charily comprise the unexpended balances of donatlons 8nd gran18 whl¢h are not subject to specific condiuons by donors and grantors as to how they May be used, and the surpluses (or olhaNise) from Iradlng actlvlli88 undertaken. Th6 revaluation reserve contains the galns made by the charity arislng from Inoreases in the value of Its prop6rty {Lewis House).11 records unrealised galns arising since August 2019 when the reserve was created. At 1 Aprll 2023 Incomlng Resourcas resources eXP8nd8d Transfars Galns and At 31 March losses 2024 Land and buSldlng reserve fund Building repalr and malnten8nc8 fund Employee costs contingency fund General funds 64,399 (3.409) 60,990 46,389 18,315 64,704 46.374 163,866 10,827 {26,8741 57,201 175,112 579.658 (541,538) 321,028 579.658 (544,947) 2,268 R8valuallon reserve 358,007 68,987 (2.268) 66,719 390,015 579.658 {544,947) 424,728 17-
AGE CONNECTS NORTH EAST WALES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Funds lunrestrlcted and revaluation resorve) (Contlnuedl Previous year: At l April 2022 IncomSng resources Resources expended Transfers Galns and Al 31 March losses 2023 Land and building reserv8 fund Buildlng repair and malntenance fijnd Employee costs conllngency fund General funds 67.808 (3.409) 64,399 13,888 32,501 46,389 46,374 {74,742) 46,374 163,596 146.789 534.732 {443,183) 228.485 534,732 (446,592) 4,403 321,028 Revaluatlon r8S8rv8 73,390 (4,403) 68,987 301.875 534,732 {446.592) 390.015 Land and bulldlng reserve fund - Ihls fund reflects the hislorlcal ¢osl value as at 31 March 2019 (1.e. prior lo revaluallon) of the property owned and used operallonally by the charity, net of depreclatlon on the hlstorf¢al cost Value. BuSldlng repalr 8nd malntenan¢e fund this fund has been established for the purpose of defraylno expendllure on th8 repalr and malntanance of Lewls House. Employee costs contingency fund - thls fund has been set up to meet employee cost conllngencles as and when they arise across servlce provlslon. 78-