REGISTERED COMPANY NUMBER: 06837284 (England and Wales} REGISTERED CHARITY NUMBER.. 1128436 Trust••s' R•wt and Financial Statements forthe Year Ended 31 March 202S for Ago Cym Menzjes LLP. SLaiut(ry Audiiors 5th FlcKJr Hodge House 114-116 Si Mary Street Cardiff CF10 1DY Age Cymru Cont•nt$ of FinarKlal Ststèmènts for the Year Ended 31 Mar¢h 2025 Pa9e Trusl••s' Report 1 to 13 Stat•m•nt of Trus1￿$. R•sponsibil*ies 14 Reptsrt 011￿ Independent Audttors 15 to 16 Statement of Financial Activities 17 Balance Sheet 18 Cash Flow Stalement 19 Notes to 1he Cash Flow Statement Notes to the Financlal Statements 21 to 30 Age Cynwu (Reglslered n￿nber. 068372841 Trustèès, Rèport for the Year Ended 31 March 2025 M•ssag• from th• Chalr and Chl•f Ex•eutlv• 11 has been another busy year for Age Cymru. In thi5 re￿ we reffled on the lives we have louGhed. the Ghallenges faoed, arKI th dlfference we have mate logeiher as irusw. stsff. vc4unieers, arKI partners. At Age Cymru, we believe that later life should be filled wrh dignity connectK>n, and opportunity. Over the past year, we have listen¢d to ol(kr people across Wales. Tlyough phJne ¢alls. surveys. communty events, and advora¢y, we have ieswnded with ompassiorh, determination. and adion. We have helped thousands of people find their way through the health and sLKial care system. We w0V￿le direct support to carers and volunteers, and we advocate for older wple i) p￿￿Y and Wb1￿ lile. Rea experiences and needs stspe our work. We have seen how a friendly phone call can rnake a d[[fer￿n￿, how a Nord c walking group can bring people togelhet, and how older pet4Je continue to show resilierKe and contribute to s(xiety. The year has presented various challenges as demand for our serw(es has Ir￿eased. In ￿sponSe, we have continued tts adjust and adapt as an organisation. This approach enables Age Cymru to keep w40rking toward its vision-. a Welsh society b*here everyone can enjoy the best experierKe ol latet lrfe. As we look ahead. we offer our sincere Ihanks to everyone wtt￿ h8S SUPPOrted our rnission. Thank you for beiryJ with us 8nd ensuring we are here lor older people when they need us most. Together. we are t*Jildiro a Wales where older people are valued, supported, and empowered to live life on their own 1erms. Pa98 1 Age Cynwu (Reglslered n￿nber. 068372841 Trustèès, Rèport for the Year Ended 31 March 2025 Oblectlves and actlvltles Tha Chèrily's PLJrpose is as set (Mjt in the obj8cts c￿)lain￿d in the Artides ol Associab"on which are to promote following purpo$6s ￿ the bgngfft 011hè publi¢ al￿10r dder ps(¥Ao.' Preventlng or rellevlng the poveny of older people - Advancing education - Preventing or relieving sid(ness, disease or suffering in okler pec4)le (whether enM)ti￿al, mental andlor physicall ProrTroting equality and divèisity - Promoting the hutllan rights of older people in acc(￿￿0¢ wilh the Universal Declaration of Human Rights - Assi51ing older people in need by leas￿ of ilkheatth, disa￿"llty. financial hordship or disadvantage Promoting training, arts, culture and heritage for benefit of okler ￿￿PIe . Otsr charitable purwses for the benefrt of (Ader pecty)le as the trustees may from time tr) time decide Togetherthe5e promote the wellbeing of dder peo￿e. In setting plans and pllorities for areas of work. Ihe tnjstees of Age Cymnj have had regard to the guidance from the Charity Commission on the prowsion ol public be￿rt. In p8rlicular. Ihe trustee5 consider how planned activities contribute to meeting the objectives set_ How Age Cymru delivers its prinapal charitable objectives. as sel (yJt In it5 Memorandurn and Arbdes of Associa￿￿. which rnay be summarised as improving the lives of older people, is demonstrated in the rewled activilies and achievements. The public benefit arising from Age Cymru's work is implial in the charitable *Nces delivered as$tstan￿ given to older people. Offering older people in Wales the best experience of later Irte Age Cymm's Vision is a society which offets people in Wales the best experien￿ of laterlife. Okler people are valued. included and able lo shape the decis￿￿5 affecting their lives. In setting that vision trustees identh.fied a series of LYJtcornes- - Our voices are heard when deo510ns are made about us and wr wmmunibes. - Our contributions to society are valued and make a differen￿. - We know our rights and htsw tts exercise them. - We have Improved health and wellbeing. - W8 are more financially secure. - We 8rè eonnèctÉd and visiblè within eommunfliès. - We a￿ sale from abuse and n￿leCt. - We live in indusve communib.es Vvales has an agèing population. The latèst census inditatès that there arè morè pewè than evèr ￿f0rÈ In thè oldÈr agè groups in Wales.. the proportion of the popul8lK)n wtrK> were 49ed 65 years and over wa$ 21.3°kn lup frorn 18.40k in 20111. The cosl of limng continues lo be an everyday challenge lor many oldts_r people In Vvales. Others a￿ struggling as they are unable to g8t thè basic care thèy neèd to live with dignity, as the workforc& (xisis in health and S(￿la1 caie leads to delays In assèssmgnt and a laek ol availability tsl service. Sorn8 oldèr pèople face th8s8 IS￿￿$ with n04)ne to hèlp or support them", and lonèlinèss is a daily siwggle when you only have ihe TV or radio 10 keep you (xmnpany. Age Cymru aims to help with trusted advi¢&, support and services. 52Vo of older paopl6 told us that their physical hèalth was a ￿hal￿n98 lasl year. 47Vo found the cost of liviro a chall&ng6 and 27% said thèir manlal health was a challènga. 52¥ts of oldèr peopl8 rèSpOneir￿ to oui latèst sutV8y iold us théy had difficultios acc8ssing health¢aro and only 5QOk of t*ople who had tri￿ to access yKial Ca￿ t(Ad us they had g)1 the support they ntrtsd. Thes8 findI￿S ar8 rèplicated in the issuès w& are hearing in Agè CymnJ Advice. wilh health and social carè being the ksy concèms that oldèr pacple raise, followed by finance. The challenge ICK Age Cymru is to identhfy and de￿Ver Ihe ath.ons that ￿11 have the greatest Impact recognising that with limited resourTrs we simply can't do everything_ We have prioribs&J working to influwjce the F￿sI￿Ve change that will offer older peopl the best experience of later life. providing the infom)ation. thice aThJ advocacy ohjer people need and working with our local partners lo deliver. We seek to innovate. rrK)tivate and diive (￿ntInual improvement in our opeith"ons. We wll deliver in line wth our value5, SO that we demonstrate that we are caring. determine(l. effec￿Ve, empowering and inclusive Ihrwghout all ol our work. Our priorities are to - Ensure older people know wl)o to turn to and have acc￿ to impartial and reliatAe infmkn.on ar￿ advice. - Deliver valued, effective arKI 5U5tainable funded advocacy services. Pa98 2 Age Cynwu (Reglslered n￿nber. 068372841 Trustèès, Rèport for the Year Ended 31 Mar¢h 2025 - Inffluènce policy and practice to improv& the qualit) of life lor dder people in Wales. - Work across Wales with th& local Age Cymm partnership. We also identified working with pathe15 as a woiity alongside operating a sustainable infrastrucknre that enables efficl&nt and effeuive dellvery fordder people. 1. Advl¢è Over the pa51 year. our Inform8lion & A(fvice 5erwice ha5 conlinueil to be a tru5teil source of (y)nfidential. iTllPartial. anLI expert support for older people in Wales - as wdl as th￿1 families. carers, friends. and professKJnaL8. Whether via our telephone advice line. email, letter. chatbot, or through refeNals from pather semces. we've been here to hdp- offering clear, reliable guidance and practical support whenever it's needed. Following the developrnent of the Al behind our chatbol, 'Pam', which helps uaer3 n8￿gate our resources and find answe[3 independently, we had planned lo introdLre a live Chat facility to offer real-time support from our advice team. While this feature was originally due to launch in August 2024. rts iryjthentation has been delayed due to changes in team capacity and ongoing staff leave. We now plan to align the introduction of live chat with our U￿Thing wthite overhaul, en￿ring Ihe best POS5ible experier￿e for u5er5 when the service goe5 live. This year we helped 11.880 people to resolve 41.616 issuas and have hlentified and helped people to claim over £633.ODO in previously unclaimed benefits. We made more than 20:1)00 onward conneclions to other specialist services. The average wail time to get thiough to the semce via phone wa5 10 rninute5 and the avetagE I￿11 letWI was aso 10 minutes. For the firsl tirne, support with nawgating thg h8allh and social care sy5terns has ov8rtakgn we￿are b8nefits and entitI8￿nts as th8 most common issue raised by our clients. This shrft highlights the growing complexity of health and social care in Wales and reflects the vital role our service plays in helFKng oldei pwe and their fatnilie5 underslarKI arvj acce5S the 5UPPQrt they need. Our s8tvie8 IS supported by a c(xnprehenswè surte of infirnb.on guides and factsheets. whith we review ar￿ updat8 r8gularfy to ensure they refflain accurate. relevant. and accessible. Covering tOPCS such a5 health. care. Tlloney. wellbeing. housing, travel, lifestyle. work, and community &le. these rescwjrces are available In print on request or electronically vk? email or through our website. INe currently offer 37 Information GuKles and 59 Factsheets or th85e. 30 Factsheets are tailor8d 5pe(xfitrslly to Wales, along with two of most ptspulAr Wa￿s-s￿￿e guKles, Winter Wrappèd Up awxl Morè M)ney in Your Pockèi. The value ol Age Cymru Advice ts once more highlighled by Ihe comp&ments we receive Ihroughoul Ihe year. ou'vè hdped mè morè in Iwo minutes than anyonè else has in M￿1th$. Thankyou." hank you (01 our help. Your service is pers￿al aThJ ￿￿ fnendly I called them Icrf SUPFX)rl. I'm glad you a￿ here.. ou've been wonderful. Ytyj've been the most helpful out of all the people I have spoken to." 'You'vè lakèn 3 16ally complicated situation, and you broke rt dovm really w811 and eWain8d things. You'vè bèèn really good with your knO%￿edge. I really app￿¢late it, Ifs been fantasb¢.' This was my first contact, I was amazed that I wasnl made lo njsh. The time given over to h61p me was amazingly gènerous. I'm grateful to you lor doing thal so wèll.. Car¢rs pr￿e¢l. Developlng pèrson-¢¢nlred s¢rvl¢tt model$ lo Id*ntlfy. and ￿tter m¢¢t th* n¥¢d$ Of older ¢ar¢r$ and carers of people wlth dementla Our joint project with Carèrs Trust Walès is fundsd by Ihe Walsh Govemmenl until March 2024 through thè Sustsinabla Social Services Grant fund. It aims to supwrt tl* eady icentffjcation of older cèrers. provide timely and persOn￿nIred information and advi￿, and to enatAe oldet ¢arers to influen¢e rK>lw rnaking. Together we worked with five Iccal partners {Swansea. Bridgend, North Wales, West Glamorgan, DyFedl to pilot person-centred approaches to ￿duce isolation, support care transitH)ns, and use digr21 tcK)Is- like VR - for carer wellbeing and education. These initiativès particulady fckused on Care￿ aged 75+ those in turèl a￿as, and those dealing wth the transiti￿ of loved ones into Care hotnes. We delivered training across eight Health Boards. training 198 w2rd staff lo better Mlentify and support older carers during discharge pr￿SSes. This included production of a txlingual praclice guide and recorded sessic￿S to extend reach. Pa98 3 Age Cynwu (Reglslered n￿nber. 068372841 Trustèès, Rèport for the Year Ended 31 Mar¢h 2025 We delivered training lo Care home stsff around approaches to suppthting and engaging with older carers, esp￿lalIY during transitions. Training was promoted nationally with suprK)rt trom Social Cara Wèles and Care Forum Walès, supportèd by bilingual rgsources anij a new good pract￿ gu￿0. 2. Advocacy HOPE Advo¢a¢y The HOPE (Helping others participate and engage) project was originally funded by Welsh Govemment to March 2023, this has been extend&J to March 2026. The project promo1es acce&s to eady inteNen=ion SLJPPOrt at community level through a range of advwacy m{￿elS for oldei pe(yle and caiers a(xoss Wa￿, rt delvers training and deltvers networking opportunities lo th Advocacy sedor in Wa125_ HOPE aims to support people at an early stage in their issues or concems to prevent Ihem slipping into CriSi5. This year we received 350 referrals into the Servi￿ whith resumed in 3742 contacts. We supported people with 429 is5ue5. 11 peO￿e were supported through Ihe Welsh language. We closed 296 cases and had 78 cases open at Ihe etKI of the year. We continue to receive referrals for supw1 which are too complex lor volunteer advocacy and do not meet the eligibility lor the pro1￿t. On occasion the presenting need meets our crtieria. and it is only when we start working with the cl&nt thal the complexity comes to lighL These have included legal issues. 50aal cate arKJ mental heath issue5, and cotnplaints to Ombudsmen. In these cases, we seek alternabve support for IndividuaL8 or on rare occasK)ns the Projed Officers will take over frorn the volurhteets. We have seen an increase in face-to-lace support being needed for reasons such as heamg loss. speech impediment or paP￿ork needing tD be seen bpfore suppo¥ting the Social Isolation has beèn 8 thème during the year for dients, with clients on occasion being housebound. This has led to increased calls arwj their wanting to spend a longertime talking to ProFct Staff arKI voluvteers. It can mean that when an Issue has been resolved the client is ￿luCtant lor their case to be ck)sed and Ihe o)ntact with the project erK1ed. Themes for referrals have included ccnsumei is$￿, ECO 4 stt*mes, contactiw adult servir*s for care support, suppurt following hospital discharge, moving home, horne rep8irs irK*Jding Vts￿ng b"me5 for these repairs, gardening services, domestic support and bèfriending. We had 140 active volunteers at the end of Ihe year. We have had a total of 363 acb"¥e volunieers1223 have left over Ihe life of the project) who together deliVe￿d 7376 ¥olunleer fKJUts this year. A targeted 8ppro8ch was tsken to rÈ(xuib"ng volunièers. f[￿￿$5￿ng on areas wherè wè had fewer volunteers to ensu￿ th81 volunleers were available across all ￿giOnS to support clients. Volunteer ￿CruItrr￿nI followed a personal approach, wilh conversab.ons and Interviews taki￿ place lace lo f&e to build relat￿ShipS arwj lo encourage retenlion. Throughout thè year relationships havè continued Mih CVCS, Ihird S￿or orgènisations, aducational fauliliès, community groups, as well as looki￿ io develop and grtsw relatI￿shIpS parti¢ularty in the (xjmmunity. Promotion ol thè volunteer advocate role has continued lo bo targeted I￿king at njral areas as well as areas where we hava had low volurrtaar numbers to hav6 a wide geographical area of volunteers to support our clients. Events we arè attending hava bèan rèviawad to énsurè our rèsources havè baén utilis8d in thè M(￿t effèctwè way. Wè havè continued to attand Univarsity av8nts as W911 as IoK)king at attgnding comrnunity events and Goffee momings. Th9 ?n9ag8mant with Law Students from Cardrff, Swansea and USW. provides us 'Mth a source of interested and engaging sludents who also see the benefits to themselves and their fvtur careers ol having adv(tacy experience arKJ dealing with ditsent issues and types of cases During th& reporting period our voluntser reu￿rtn￿l has been mainly older vdunleers who are wishing to make a difference and 'giv¢ back,. We continue to communicate with our volunteers via regular UFLlates around training opportunities and olher events and our Newsletter ￿MaInS a gxxl solKI communin￿tIOn medium with our voluiteers. V•heTe we promote the Time Credits programme. Thts refflects our c(xnmitment to ensuring volunteers are iupfK)rted above beyond their actual advocacy vtslunteering. In the second half of the year, we revisited the BLWIMentor Syst￿ and ub"lis&J that in several cases where new or inexperienced advocates were SUpp￿led by MO￿ esta￿thed volunteers. This has proved to be partiwlarty uselul. Pa98 4 Age Cynwu (Reglslered n￿nber. 068372841 Trustèès, Rèport for the Year Ended 31 Mar¢h 2025 We completed the ￿ar with a total of 15 Volunteer Ambassadors. Our arnbassadors have joined thè team at extemal avsnls to givè èxampl6s of the role and how thèy help io gat real outcomès fo" 0￿er peopl8. Thg HOPE proJ&¢t has delivered 139 trainng or doWopn*nt sgssK)ns to rwpl& A toial of 33 advocacy nemork meeiiThJs 9JPPOrted. 28 Regional Networks. Three National Network meetings. . Two m¢etin9s of thtr Network thairs. All advocacy networks meeting5 sinTr April 2020 have been via Zow or Teams. This ha5 enatled a range of 3dvocate5 and advcKacy providers to a¢￿sS and attend the meetings. The meetiws have been well attended and have given advocates from across Wales an opportunity to discuss relevant issues relatiThJ to iheir sÈtvices and clients. HOPE project staff have been attending the network meetings and have been iaisin9 awareness ol the project and developin9 contacts with local advocacy services. During 2024-25 nefv4od( meetings discussed a range ol issues induding the cost ol living, I￿1 commissioning and funding arrangements, development of advocacy strategies. increases Tn eemand and complexity of cases, the impact of increased inclusion in childcare cases, the lack of krK)￿edge abtyJt advocacy from profe55K)nals In statutory bodie5, Ihe lack ol othEt support services to signpost people to for supp(xt. hOu￿ng issues. sateguardirvj. n-Instructed approache5 Iper50n centrefj, wat-hI[￿ brief, human rights, and observation). This involves spending time with the person, speaking with their family, leaming atK)ui th8ii life, and pteviously expressed wishés and Sclion, as wdl as reading tsre notes and lugi%ng ¥￿th thèir tAre team. This year we supported 867 people al all slages of Ihar ￿emen￿a joumey and some of whom lind themselves In limes ol complex change and crisis In their lives. These situations indude safeguardiThJ, hospital dischar￿. finding appropriate care and support, earèr stress brèakdown of caring SUPWrt, d)ange of axomnNxJatN)n. deputyship and Lastwig Power ol Attomèy and many more life itnpgthng ¢ir¢umstsn¢es whi¢h require a tra￿ed independenl advo¢8te to enaue pewe to have their views heard and their rights upheld. Vvè continuè lo énsure our tèam has èxlen&ve training induding non-instnA(tsd advocacy. dèaling wrth suicidal convèrsations, Èquaity, diversity and inclusion. and èxpèrt training IM) thè &)ck41 S8M"ces and Wèlkbèing Iwalèsl Act. This year. we experienced a significant tumover in our advocary leam. wth Ihe departure of haK our advocates. These changes were driven by a variety of factors, induding fiJnd*ig uncertainties. evolving family commitmnls. and new career opportunities. This temporary rsduction in staffing lèd to a dip in referral numbets during tha transitim ￿riod. Despite these ¢hallgnges, w& mado subslantial progress in rebuilding oui toam. By the start of the Mew Year, wa had nearfy completed re￿UltMent, aThJ by April 2025, we were back to operathng wth a lull comtlement of advocates. This renewed capacity has positioned us strongty for ihe year ahead OLJr mana9ers and advocates have networked at al levels Wa￿S to incwse the wojecvs profile engaging wilh the reg￿nal dernentia lsads at the Regional Partnership Boarcs. senN)r managers In IIK31 authotity adult 5eNces teams and health boards across the regions. We are now key partners in the Memory Support Pathway in North Wales and are working closely with all the regi￿)a1 Dementia Connertors across wa￿$. As a result. referrals have increased signif￿andY. The Head of Safeguar¢th"ThJ and Advoca¢y is a merrthr of the Dementia partne￿ Nalional Steering Group, and the Communlty and Connectors National Steeling Group. 8t￿ the Regional Managers and stsff ale altending strategic I￿1￿nal meeting5 and operational multi-disciplinary meetings. Issues raised iidude.. Best intefftsts. meetings iequiiing irKlepeMknt support . Case rieeds 35sessmentS Pa98 5 Age Cynwu (Reglslered n￿nber. 068372841 Trustèès, Rèport for the Year Ended 31 March 2025 Financial issuès Hospital distharga Housing Legal issues . Care home wncems Lasting Power of Attomey . CHC funding Family breakdown Safeguarding Hospital communication Refuse collection . Social Services Later life planning Loneline55 and isolation GP visits The feedback we receive about our servir2 is overwhdmingly ￿)sI￿Ve from dients. professionaL%, and family. Many families say they don't know what they wwld have done ￿thOU11he seNce and that they wi I be forever giateful. We have recewed overwhdmingty positive feedback from dients. famitylcarers. and professionals.. 'My dad insisted I phone you to thank you for Sta￿lIng up fc* what he wants. and I would like to say you are a gwd manl. 'You'r8 3 credrt to your profess￿￿. cheers. that in my txx)k ￿ a pers￿ wth good rrK)rals and a knowledge., '1 wanted to take a mment to express mv sincere apprecialts)n for the inuedible wot* that IAdvccatel has done while advocatlng for sevEral ol my dien15. Her dedication. piofe55i)nalistn, and cownpas5ionate approacth have madp a significant difference in ensunng that th￿[ voices are heard, and th￿[ needs ale meL Clients have Ydt emp(Mered and reassuied knt)winu they havp someone truly committed to their best interests. I firish wth this autlM)rrty this Friday and I wanted to th8nk het hard work. patienee, snd commitment. Her efforts have not gone unnoticed. arKI I truty app￿eCiate the Fositive impact she has made, arKI I IoDk forward to conb"nuing lo ￿C￿k aknThJsth her in the lulure.. 'You provid8 ￿th an invaluable 58Nce that has helped so rllany of the petW we sUP￿rt.. 3. Influencing Ensurin9 old•r pèople's voieès art hèard We supported older people lo shape and influence the developmenl and delivery of services and policies Ihal reflect their needs and pnorities by provK1ing comprehensive and effeclNe Se￿larial anc developmenl serVi￿S lo". Active Vvales, Cymru Oldèr PeorAe's Allianc8 ICOPAI, N3b"oral Pénsi(N)ers convenb.on Wales INPC Wales). Wal6s Sèniors Forum. We also w￿k&d In partnarship wlh thg older pe events with cand*Jates and producing a manifestc) to raisè what oldèr paoplè wanted to sea in thè nè*L UK Govemment. AJongsi(k this wè worked dosely with Age UK to campaign to revèrsè the Wintgr Fvol Paym¢nt p(Ai¢y d)ange ann(MJn¢sd in Juty 2024. We held an eveni 'A Spoillght or older p￿pIe atKI mentsi htsallh. ai Senedd Cymru whlth Induded p￿SeD￿tIonS from a range of organisations and a ke>note from the Minister for M￿tal Health and Eady Years. We were also invited to prowde Èviden¢e to Ihe Lwal Housi)g and (knemment Commrttee on the Private Rented Sector and tho Equality and Social Justice CIKNmittee on Fuel Poverty in Waks_ We alsc) wrxjuced a new public p￿iCY statsment fo￿￿ed on older and ch.male change. SUF￿rting good social carg SrKial care and the implementation of the s(￿la1 Serwces and Well-being (Wales) Act contityjes to be a major loujs of our influencing work. ive delivered the care home pioject whith focused on c(￿C[e￿bng reL3tionship centred resKlent wellbeing through the launch ol toolkit for Ca￿ home staff. and supporting resources vthich were ¢Jisknbvte£l to every care home in Wales. Two in-person events also took place to share the t￿)Ikit and erMJage in conversathon arourKI relationship centred care to supwt resident wellbeing. We also published third report orb the ddays In access to sooal Lzre Why ale we still waiting?. which had an additional focu5 on paying foi care and hospital dischaige. when [r￿t with a number of key stakeholders to discuss the re￿rt. Wales Against Scams Partnershlp This year we conb"nu8d to eM￿d the r818unched VVale5 Against Scams Partnership (WASPI, 8 cross-$8Ctor netwoik of organisatlons comThitted to combatting SL%rn5 arwj fral￿ in Wales. This has mnthly tneetiTTrgs where partners frorn third sector, police. regulatory bodies, banking, Lrtilities and other sectors could share recent scam alerts, campaigns and initiatives. TherE are now around 37 partners attending, and during the yeai a I￿nt caM[￿Wjn was developed and launch in partnership with North Vvales Police and Crime Commissi￿￿ to combat dLKM5tep scams. . 3. Wtsrking with local Agè Cyrnru Partnèrs During the period, we continued lo work Y+lth our I￿al Age Cymru partners and Age UK lo develop Ihe new Network Agreement in Wales. This tnparlite agreement with Age UK and lo(xl Age Cymru partne￿ sels oul the local and natK>nal facing relationships. Wè supported additional règular meetings of Ihe Chièf Offieérs ol k)eal Agè Cwnfu Partnèrs and Ihe Information and Adwce Network to take place rernotely. 4. Projects and Programmes Isolatlon and lon•llnèss Friend in Need setmce Our Friend in Need sérvice has continued to gru44 and provide invaluable ￿pport to old8r peoplè. Thè sèrvic& providas frèè telephonè lriandship (xlls for pèoplg in Walès who ar& 70 or ovèr. One of our service users told us 'It's a conn8ction with the outsid8 world, ivs a lifelin& anc I k)ok lO￿ard to thè call. Wè ialk about anything and èverything. Enlightening (xJnversatK)n and topics, the service is a very w)d serv￿. rf I miss the call, I listen to the answer messages and wait for the fjall again. I'm here all the time unl¢s5 I have a hospital appo1rbt￿nI $0 I donl mind the change ol day 01 tiwne If needed. By the end of March 2025 there We￿ 155 vfAunteers actNety supwrting older people with weekly calls and a futher 8 volunteers tsking part in the inducticm and traini￿ process. Our Voluntee￿ have told us .1 love itl Talking to different friends is hJmbling and fascwiating! We share a variety ol to￿.¢$ we may never have diwussed otherwise. It'sfabulous lo leain and shale new thing51 Pa98 7 Age Cynwu (Reglslered n￿nber. 068372841 Trustèès, Rèport for the Year Ended 31 Mar¢h 2025 This is vol work I can partake in trom the Comf￿ of my ho￿ when I struggle wilh my own heath yet feGI very connected and focvssèd on my phone friend. Sometimes. yès, it can bè thallenging to kèep a convarsation fluid and chatty, find somalhing up1￿1ng for your friend to feel h4)py and lalk al)(xJt. So, I kéep a po(A of idèas * hand. pTr&c8 of p￿ty tr) discuss, trivia questions and some weird and wonderful facts. Age Cymru is a worthy cause. the administr*ion and cotmtnunicalion side is lop class so rfc works well and Is a pleasure to be a part crf.l- This year 213 people had accessed the Friend in Need Servi￿ and a total of 1 5.213 ￿lIS were M￿je. Arts and Grgalivity The theme for May 2024 was 'change'. We've been inspired by older people that have created cultural change in Wales and used this opportunrty to apen up (Lnver5ations atxjut change The fesTh"val continue5 to promote older age a5 a lime foi cieats"vity, leartyng new ski115 arKJ cieates community connections. For this year's festival, we were delighied lo pronN)te 103 evenls 157% deuease on 20231. with an estimated 9007 participants 123% increase on 20221. A wide range of arts forms were iepresented (dan￿. visual arts. muEic and ffilml providing okler people with an interesting rnix of ctivities to participate in across the festival month. The geographical sp￿￿d of Ihe activities and events tends to centre around more urban areas in the South and Ncrth, but ongoing relationships galleries and libraries are helping to ensure that opwtunities in more rural a￿aS can be promled. Linked to the festival theme, the ChangerT7akers project celebrates oldor people that have rnade a 5ignrficant difference to culture in Wa1£5. Ag8 Cymru worked with photographer Jon Pountney to) cr8al8 a seii£s of portr8its. sorne individuals chosen by us and some chosen by Ihe general public. Portraits indude Anla Worthng, Sir Karl Jenkn"ns. Mart( Drakeford, Mary Lloyd Jones, Prole550r Meena Upadhyaya 08E. Pete NewtTraD, Williatn Thomas and the Wa￿5 Velerans Football A550ciation. Thpse wer displayed in an online gallery on the Age Cymru website and in vardiff Central Library as part of celebrations around thE Intettbational Day of the Older Person belween the 3id and 1Tth (kttthr. Two further Changemakers were added l) the onhne gallery" Geunor Roberts and Margarette Hughes. The project encouraged pe44e lo think about the achievements af okjer people and to celebtate their irrpacl. Physical Activity The aim ol our Physical Aclivib"es programme is to inuease aclivity in older people. reverse or mitigate physical decline and frailty nd help people live in(kpendenlty as they get okjer. We seek to emwwer peq)le with Ihe skilL% and thowledge lo understand thè bèn￿lt$ ol being acbvè as wdl as developing opportunities social connectK)n, whieh is equally importabi to gÈnÈral wellbèing. All of this is done In a safe, fun and commLJnity setting and makes 8 hL￿e diflerence to the lives ol older people 8cross W8le5. Bolh in terms ol the physical benefits but also the sooal aspects o- coming koether on a regular basis. Vvè havè maintain8(J dosè and régular e(xnmunication with 311 our volunteèrs and gr[￿p$ Ihroughout thè yèar. We have off8rèd supptsrt and ensurèd all our volunteèrs and participants arè engagèd. ha(wy and safe at all timès. During 2024-25, our 151 a¢tive vclunteèrs gave an incredible 8.893 trKMJrs of iheir t1￿, sUpWrti￿ 38,413 meanlngful iniera¢lions with older people across Wales. Meanwhile. our physical actNity prcorammes saw 14.302 participant engagements, helping peopl stay active, connected. and well. Participant F88dback'. 99¥0 of partiapants agreed their physThl heatth and ffitness has Im[￿0ved SI￿ they slarted partiapating in our PhysKal Activity programmes. - 89'A arè doing morè thysical activity on a regular basis Sir￿ thèy began p3￿CIpat￿)n. - 99'A of participants rated our programmes as good or excellent. We asked our partlClP8nts to tell us. in treir own words. why they attend Age Cymru Physical Acthvity classes and whelher they would recommend them to others.. 'Age Cymm is a great all-rourKJ ￿ganIsatiOn pro¥iding imw)rtant ink)miation. gU￿anCe and social activrties. It Is incluslve with inforrnation provided in an easily understood format vthith etntKiwer5 people to rnake positive inforrned choice5 to imptove their wellbeing and lifestyle. 'Age Cymru wovides a wonderful serrice and activities that are free of tharge enabling so they are accessible to al. I particularty enjoy Tai Chi and the dass is fun: uplith.ng and keeps me moving." Pa98 8 Age Cynwu (Reglslered n￿nber. 068372841 Trustèès, Rèport for the Year Ended 31 Mar¢h 2025 he tèam are vary helpful listen to my qUesb￿S ovèrall. thèy are very for my wellbeing and my mental h8alth.' .1 like the way wg are ¢onsulted and madè to feel tlkat what think and want ar8 actually important .1 feel Ihat because of Age Cymtu l am able to keep My b(Kty physicalty ffil and because of t1￿ wialising aSp￿t tny minij is heallhler too. I would recommend It io anyone.- Nordl¢ Walklng Nordic Walking p3fbcipants walk using a P8iT of 5peciany desigr￿J, IHJhlweHJhl p(le5 thal prowde additional Support rriE3niiig IIiEy get more from the exercise. It provides a variety ol benefits above that of normal walking. exercising 90 /D of muscles, increasing strerKJth in le￿. am)s. shoulders. chest and back. Nordic waking is less tiring than rKimwl walking and it can increase participants, heart late by up to 13% meaning greater beneffit (zn be aciieved th-IMJgh le&s effi)rt. All walks and events have time built In for soGial interadKIn. This year. we saw 399 individuals taking part in Nordic Walking activities. Across Wales. 20 weekly walks are now led by dedicated team of 37 trained vdunteers. hel￿n9 oldei people stay act[￿e. soual, and connected to their communities. Low Impact Functional Training (UFr) LIFT is a fun 2nd eroagiThJ programme oflow-1m￿ aclivrties aThJ games ¢Jesigned to encoumge older adults to stay active withln their local cotnmunities. Each session inclLKJe5 a rrix of Safe. seated ar￿ slatmjing exerose5. all￿Wing participants tD WDtk at their own pace irh a way that suits their individual need5 and abilities. Tailorgd specifically for people ag8d SLI and over. LIFf womotes health. 5lr8ngth. balance. and confidence in a w8lcorning, sociable environment. The programme and its associated qualifications a￿ owned by Age Cymru and were developed in partnership with training ptovider Exact Filne55. With over a decade of delivery. LIFT CDlltsnue5 to tnake a meaningful dIffere￿￿e in the lives of oldet people across Wales. In 2024-25, we delivered 38 weekly dasse5. led by 37 trained volunt8er5. attr*ing 751 Trgular patiap8nts. Tai Chi Qigong Our specially tailored Tai Chi u￿Ong Shibashi das5es are designed to 8nhance tx)th m8nl81 arKJ physical well￿ing in old8r adLJIis. Rootèd in iradition81 Chinese médicine. algi￿g - meaning -energy Exeruse- . combines breath. movèment. snd mindfulnéss tc) promole balance, relaxation, and viialily. "Shibashi- relers lo the 18 genlle. flowing movements used lo support energy now throughout the l￿dY. These sessions hdp loosen and strengthen joints and musdès. impme balan￿ wslure, and supwxt healthy blood pressurè and lung funeticbn. Règular pracw can aid urculatK*n. digèstim. and mentsi clarity. Whi￿ Improving eore strèngth - a kèy laelor in reducing ihe risk of falls. The prtsgramme is indu*ve and ajxssibk. offering tx)th standing and seated optitsns to suii 8118bility levels. In 2024-25, we ran 37 weekly classes across Wabes. ddiveraj by 35 trained volunteers and attended by 750 dder pEy)ple. Walklng Groups Our Walking Groups arè idèal for oldèr twpl8 vhK) are confid8nl walkn.ng short distances and enjoy the social banèfits ol b8ing activè with others. Routes aré arelully ch05en lor their manag&abl& tetrain. and ea¢h walk is 18d by train￿ volunle8ts whr) ofttrr encouragement, supporL and ensure no one is left behind. In 2024-25, 17 active voluniegrs led 1 D regular weekty walks, suprKxling 95 parbupants to stay active, connactad, and upliftèd. Walk and Talk Our Walk and Talk programme supporfs older aduns who have k)st confi¢ence or face barriers to getting out and about. Parti¢ipants are matched wth a Irx*l volunteer and work togethet on simple. achievable goals to improve physical health. Using rnolivational techniques and buildirg iapport through iegulai walks. Voluntee￿ help partiapants re-erbgage with their local area and community. The focus Is on encouragwent. companionship. aThJ building conhdetKe. Pa98 9 Age Cynwu (Reglslered n￿nber. 068372841 Trustèès, Rèport for the Year Ended 31 Mar¢h 2025 Voluntaers are trained to deliver simple, equipmerrt-freè exeruses {drawn frfmm (rtjr LIFT programmèl that can bg done at lY)me. After 12 waèks, participants racaive a personalisad plan to continuè thèir wogress. The programffte has faced seveial Ghallenges Ktst refertals from tye Work￿￿, often for individuals whose needs gl) beyond the Ilghl-touch suppon Walk and Talk was deslgned to offer. V¢Junieers have also found 11 to malntsln engaggment with participants facing more complex health issues. Thls y¢ar the prOgraMn￿ re¢r[JIt￿ 15 V￿unteerS who wete able to suprx)rt 10 indiwduals. Héalth Initiativ•s We Gontinued to champion We15h Govemment prioritie5 on prevention and health promoti￿ sitting on the National Falls Prevention Task Force. the Falls antl Fragilty Fracture Audit Prograrnrne Sleering Group. end Supporting the WAST Fa113 Framework and UK-wide'4 Nations Togelherf cdlthration. Our fflagship wintei carnpaign. Spread the Waimth: ian in phases. Phase 1 launch￿ in late August-one morth eadier in previous yeais-to help older peotAe plan ahead.. earfy FacetK)ok and X posts reathed 1.193 ar￿ 422 iThpie55ions respectively. Phase 2 followed in October with clear calls to keep warm. *cure wirrter VaC￿￿atrOns. ?nd use hpating deVI￿S sofety. AGross the season the campaign attracted 19,435 SOCIa￿media impressions. 936 webpaJe views. and coverage in BBC Wales as well as seveml local and iegional oullets. We iefreshed our Winter Wrapped Up irrf(xmakn'￿ guide, adding n8w content on ho￿￿ety and financial sUPPOrt. A total of 6,50CI printed guidgs13.000 via partn8r N8stl were distriLyJt8d. whil8 thg guide's webpag85 lowed 269 vigws and rglated posts a further 7,300 impressons. Oui quarterly Age Matters newsletter reinforced the same messages. reaching 1.020 readers itb print and reCord￿g 545 onlinp views. In partnership with Welsh Govemment'5 Help Us Help You catrpaign. we co-p[￿uCed updated leafiets Ihal cornbin8 Spread the Warrnth advice with NHS wirter-care guidance. Falls prevenlB)n iemained a priority beyotvj nth.onal forums. During Falls Awareness Week we a¢Jopted an Inteigenerational ftbCUS, launching a Key Stage 2 resource pack Èrmj delivering workshops, talks and chair-based exercise demos In communrties auoss Wales. S8v8nty-six per cent of partiapants rated session5 8110 or higher. and three atterKle8s progressed to LIFT-instructor Irainino. Together, these initiatives advarted Ihe we¥entative goals ol Taking Wales Forward aThJ A Healthier Wales - parliajlady In areas ol lowest heallhy life expectancy- Whi￿ equipping I￿uSandS ol older r)eople wth Ihe knowledge, confidence and resources to stay Wam, safè and well. 5. Sustainable Organisation Systems and proe•ss•s Following Ihe adoption of systems and processes lasl year. we have conlinued to refine our operations this year wilh a consstent focus on impmving our data collectK)n. Qualty We conlinue to operale to the Charity auaity Standard. Investors in Volunteers and the Advocacy Qualty Perfomiance Mark. Volunt••rs The Age Cyrniu chaiitv was 5UPtX)rted by a range of volunteets dwiThJ 1he yeai all of whom made a huge ¢tsntribution to thtr effective operation of the Charty. At the end of March 2025. we had 454 volunleers. Vdunteers o)ntributed OV￿ 19,588 h￿rS lo the Charity across a raThJe of pro9rammes. Our Trustees are also volunteer5 and give at least 56 hour5 each per annum. ￿th the Chair and Deputy siving Sig￿lfican￿Y tnore. As Ihe board composition is based on skills mix many trustees give turther voluntary tsme Jp on an ad hoc basis. Our Consullative Forum is made up of voknnteers who WO￿ with us to ensure that the work of the Charity is informed by the Views nd perspectives ol older people from c(ynmunttie5 across Wales. The Age Cymru Consullative forum tnet in person during th year to discus5 Issues of key concein to older peJple. to provKJe Age Cymru policy w)sib"on5 arKI to give advice to a55isI Age Cymru trusiees shape decision making within rhe Charity. Pag& 10 Age Cynwu (Reglslered n￿nber. 068372841 Trustèès, Rèport for the Year Ended 31 March 2025 Fundralslng We are reglstered wllh Ihe fundralslng regjlator. Our aP[￿￿h io fvndralslng Is sei ¢)th In our fundralslng charter, the key polnts of which are summarised below.. -we do not Ljndertake any fundoising dOOr-tr￿ activity -we do not share personal data t￿Yond the Age Cymru Nelwo -we do not sell per50n31 data -we do nol'cold call. people for fundraising purposes -we only phone people with whom we have an existrKJ relationship or Who have already gwen us perniss￿n to contsct them every communication from us to [ne￿be[S of the Pu￿lE will a￿layS indJde infotrnation on how to opt out of futuie corntnunications -we always Stop direct debits re￿iVed frorn donots rf a third party le.g. family friend51 advise us that the donor is vulnerable in some wey.. if we are Satisfied that such third party is enttued tJ act on the don￿5 behalf we will keep our fundraising pr￿tice$ uThJer review. and we will work with others with the aim Df improving practice across the charity seclor The Charity protects vulnetable pe(* 1hr￿gh adhprerKe to the fundraising charter. Additionally. the central servi￿5 team tnonilor the fundraising action plan and report to both senior rrkqnagernent ar￿ the board of tIU5tee5. The Charity does not use professional fundraisers. No cotnplaints in relatK)n to fundraising ac*vitses wer8 iec8ived in Ihe peri(Ml. Our fundraising objeckn'%es comthne indivi(bJal. ccvporate and legacy donations. Th￿ yearour target was not met. Plans for futur? periods Our priorities in 2025 a￿ to - Inffluence policy and practice to improve the qualrty of lrfe frjr older people in Wales. Ensure older people know who to tum to have acce55 10 imparbal and reliable inlorrnatTron 8nd 8dwe8. - Support IhÉ dèvèk)pmènt of ne￿ts￿k partners and the parfnership a(xoss Wales. - Work with partners to deliver valued. e￿￿tIVe aThJ suslainably luThJed ajvocacy servi￿. - Ensure the sustaina￿"lItY ol our organisab.on Thesé wiorities arè to ensure older people athièvè Ihè f￿lO￿ng (MJl(x)mÈs - Our voices are heard when deosions a￿ rnade about us and oJr coMmuni￿"eS. Our contributions to society a￿ valued and make a differen￿. - W8 know our rights and how to èxercise them. - We havè improv8d hèalth ènd wèllbèing. - We are more financially sè¢ure. - We are connected and visible within our o)mmuni1ies. - We are safe from abuse and neglect. - We livè in indU￿v& communities. Strat¢91¢ r¢port Flnanclal pos5tlon Age cymru gwerated a defiut on unrestricied functs in the year of £1.2K and a net movament in fund of Nil on restricted fuThYs in the y8ar, aftar transfèrs. Tha net OP6rab"rKJ d8ficil was £42K {£218k de￿il.. 20241. Total income was £2,778k in the current year whth increawl from the pti(K yeai * £2.424k. Charitable expenditure ha5 increased in the current year by £203k from £2.617k to £2,820k due to the timing of costs ir¢curred in relation to restricted funding received and the Charity's successful delivery of restrthd Fwojects to elderfy ￿pIe. The defined txnefit pensicm) scheme had an actuarial loss of £20k due to thanges in asSumpti￿s. In the balance thet, rash held in Age Cyrnru bank accounts inctea8ed from £578k to £886k. Pag& 11 Age Cynwu (Reglslered n￿nber. 068372841 Trustèès, Rèport for the Year Ended 31 March 2025 Strat•gle report Flnanelal r•vl Reserve$ poli¢y Age Cymru's reserves pollcy Is revlewed annualty and Is based on a free reserves approach. Free reserves are deflned as unrestricted funds which have not been eamiarked and may be used generalty to further the charty's objectives. Under Ihis policy, Age Cymru takes a twelve-month forward view of free reserves, fact(￿ng in c(mmercial and other risks. This enables Age Cymm to determine the resetves range ￿qUired foi the Chanty tts cover ￿r.ned char.table expendituie over the following Lwelve mt)nths Und￿ Iwo adverse scenarios. This calculat￿n resulted in Age Cymru maintaining a free res￿eS of between £450.(xXI and £534,000. At 31 March 2025, Age Cymru's free ￿SerVeS were £1,302.867 well in excess of this range. The free reserve excludes Fixed Asset reserves. Age Cwru trustees are cornfortable with a position above the reserves Oicy a5 It conts.nues to operate in a challengin9 enviiontnent. The higher reserves level gives addttK)nal resources to respond to the cost of living crisis currently impzcting the Sves of eld￿lY PeO￿e. Golng conc•rn The Trustees have asse55ed the Charity's abilty k) cl￿tIn￿ as a going contEtn. In rnaking this asse5Stnent the Ttustees have considered seveial factors when forming their conclusions induding a reviEw of U￿ated forecasts to 31 M8rch 2025 and consideration of key risks. The cost ol living crisis has had a significant impact on the Charity's operat*Jns but careful management of its finances enabled it to grow free ie5etve5 in the year. The Charity is funded thiough uniestricted arvj iestricled incotne ftctn funders frorn a variety of sources, including statutory bodies. Injsts and fourKJations. cotpotale and indiiiduals. Age UK also provides an unrestricted grant each year. The Ttuslees prepare annual budgets and forecasts in order to en￿re there is adequate fuThJing in place to deliver charitabl activities lof the coming yeai. Forecast5 lor a furlher two years have also been prepared. Regular c(xnmun￿tlts￿ has been m8inlained with Age UK and dorK)rs and the charity ha5 reviewed plarned unrestricted expendrture over the periiKI ol review. In Iheir rewew of the budgets arnl forecasts. the Tnjstees have been mindfvl of the continL￿d risks of costs ol living and Ihe impact that the ojirent inflation and energy piice rises will have on Cymru s operats"ons. Considerabon has also been given to thp increased detnarml for our services brought ab￿ll t￿th the cost of living crisis 4vhKth continues to Impact the lives of elderly people in Wale5. HaviThJ reviewed Ihe financial position of Age Cymru the Iruslees c(ffldude ihal ihe going concem basis of Ihe acwunts'preparalion is appropriate. Finaneial and risk managèmèrtt objeelivès and polieiès Risk The Iruslees ￿gUlartY monitor the major risks affecting Ihe charity. ldenlified nsks will be mits"gated through effeclive policies and procedures covering all areas of operatKJnal practi￿ and detaikd finanoal contrds which will be reviewed ￿gularlY. Kèy rlsks The organisab.onal risk wisler is revi?￿d by the managemeni team al their monthly meeth.ng and L)y Iruslaes at ea¢h ￿ard meeling where Ihe key risks aThJ miti'gatiig actiors are di￿ policy and is approved annually by thtr Age Cymru boar¢J of trustees. R•f•rone• and admlnlstratlv• d•talls Reg1ster¢d company numb•r 06837284 IEn9land and Wales) R8gistor•d Charity nUm￿r 112PA36 Regi5t8red office Ground Floor Mariners House Trident Court East Moors Road Cardrff CF24 STD Trust••s CWMCarter M J Coggins C E Davies K Hegnan-Davi85 Iresigned 25.10.241 D M Hughes R J Mansfield S G Milsom E Sanders J William5 - Chair C Nadin (appointed 12.5.251 Auditors Menzies LLP, Statutory Auditor5 5th Floor Hodgè House 114-116 St Mary Slreel Cardiff CF10 1DY Bankèrs Natwesl Bank City of London Office PO Box 12258 1 Pnnc6s Streèt Lon(bn EC2R 8BP Audltors Tha auditors, Menzies LLP, Statutory Auditors, will be pr(¥K)S8d for re4pwintr￿nI at th8 forthcon¥ng Anntjal G8nèral M6ating. Trustees. report. incorporating a strategic report. approved by order of the board of trustees, as the company directors, on 1 December 2025 and signed on the board's behalf by.. J Williams - Trustee Pag& 13 Age Cymru Stat•m•nt ol Trust•ès' Rèsponsibiliti¢$ for the Year Ended 31 Mar¢h 2025 Thè trustoes (who are also the direclors of Age Cymru lor the puix)ses ol company lawl are responsibl& for preparing thè Truslaès, Report and th8 f1nanci81 statèments in acCOrdar￿ ￿th awAitsble law and Unitèd KirWom Accounting Standards IUnit8d Kinglom G¢nerally A¢(*pted A¢¢ounting Pra¢b"¢sl. Company law requlres the trustses io prepare flnanclal siaiements fw each finandal year. Under Ihat law. Ihe trustees have elected to prepare the finanoal statements in accordance with United KirNJdom Generally Accepted Accounting Practice (United Kinglom Accounting Standards and applicable lawl Under Gotnpany law the trustees tnust not approve fina￿la1 statetnents unless Ihey ale satisfied that Ihey give a true and fair view of the stale of affair5 of the charitable company and of the in())ming fesource5 and application of resources. including the income and expenditure, of the charital￿e company for that period. In preparing those finanaal statements, the trustees are requwed to sdect surtable accounting policies and then apply them C(￿siste￿￿￿. ob¥erve the methods 8nd principles in the CharitEs SORP.. make judgements and estimates that are ￿asOnable and FKLHlent.' state whether appIl￿ble acc(yJnting standards have beer folkjwed, subject to any material departures disclosed and explained in the financial 5tatetnents.. prepare the financial statemerts on the going concem tksis Unle￿ il is inappropriate to presume that the charitr2ble cotnpany will continue in business. The trustees are responsible keeping proper accounti￿ records which dksclose with reasonable atturacy al any time the financial posit￿￿ of the charilable company arKI to enable Ihetn to ensure that Ihe financial statements comply with the Companies Act 2006. They are a150 responsAtAe for safeguaiding the assets of the thar£table company and hence for taking reasonable steps for the pr8venlion and d8tection of fraud oth8r irr8gulariti8s. In so lar as the trustees are aWa￿- there is no rél8v8nt 8udit inlotmabM 0fwh￿h the d￿r[table company's auditor5 are unaware," a￿1 the trustees have taken all step5 that they ought to have iaken lo make them5elve5 aware of arny relevant audit Information snd to establish that the auditors afft aware of that infrJnnaiion. Pag& 14 Repthl of the Independent Audliors lo the MeM￿rS of Agè Cymtu Oplnlon We have audiied Ihe financial siatements of Age Cymru Ilhe 'chariiable companYI for ihe year ended 31 March 2025 which comprise the Statemènt of FinarKial Activities, the Balance Sheet. the Cash Flow Statement and ￿teS to the financial statements, including a summary of significant accounting poliaes. Thè financial rèrK>rting fvamèwork that has baan appl￿d In thair prèparation is applicablg law arKJ United Kingdom A¢¢ounting Stsndards Iunrtod lfjnydom G9nerally Attepterl Ac¢ountsw Practicgl. In ow oplnlon Ihe flnanclal statemenls.. give a true and lair wew of the state of the charitable companls affairs as a 31 March 2025 and of its incorning resources and application Df res￿r¢￿S, induding its income anc expendilure. for ttre year then Ènded.. have been properfy prepared in accordance wilh Unrt￿ Kiwdtyn Generally Accepted A¢c¢unting Pradb¢e; and have been prepared In aowrdanfje wlh the requyements of the C(Hnpanies Act Basis for opinion We conducted our audit in accordance ￿th Intemational Standards on ALditing IUKI IISAS IUKII and applicable law. Our responsibilrties Ljnder those standaid5 are furthei described n the Auditor5, resw)nsibiliti"es for Ihe audil of the financial staternents seGkn'on of our report. We are intÈpendent of Ihe ctrarttable company ￿ accordance with the ethitzl iequiiements that are ielevant to our audit of the financial Statements in the UK. induding the FRC'5 Ethical Standard, and ￿ have fulfilled our other ethical responsibilities in accordance with these requirements. We believe ihat the audit evhdence we have obtained is sufficient and apwopriate lo provide a basis for our opini)n. Conclusions relating to going concern In auditing the financial slaterrenls, we have conduded tIKat the tr￿tees. use of the going concern basis of aC￿unting in the preParat￿n of the ffinanaal ststemenis is appropriate. Based on the wotk we have P￿r0[[￿ed, we have not Klentthed any material uncertainties relab.ng to events or CDnditions that, individually or collectivdy, rnay cast signtficant doubt on the charitable (x)mpanWs ability k) continue as a going concem for a tEriod of at least twe￿8 Monttr￿ from when th8 ffinancial sta18￿￿ts are aLrthorised for Esue. Our iesponsibilities and the resFM)nsibilities of the trustees ￿th respect to goiNJ concern are described in the ￿levant SectiC￿S of this ￿POrt. Other inforniation The trustees are responsible for the other inlormabon. The other infommlion c4)mprises the infomation included in the Annual Report, other than the financial statements aThJ our Re￿¥1 of the lTrJeperNJent Auditots theweon. Our opinion on the financial statern8nt5 does rKbt ver the (ther information alld. except to the extent othemis8 8xplititly st8lÈd in our rÈKTrort, wè do not èxrKèss any fom of 8ssurante Condus￿ lhe￿n. In ¢(￿ne¢ll0n with our audil ol Ihe financial statemenis, our ￿sF￿)nSib1ity is lo read Ihe clher Infomialion and. In doiro so, consider whether the other informabtsn is materially inconsistenl wilh the fi￿￿al stalements or our knowledge obtained In the audit or othèrwise ap￿ar$ to bè matèriaiy misstaed. 11 we 1dèn￿fy suth matenal inconsistènuÉs or apparènt matèrial misstatèmènts. wè 8re required to dèterminè whether this gives rise to a matena misstatÉment in the financK41 ststements thetnselves. 11. b8sèd (kn the work we have performcd. we condude Ihal there ts a mal&ial mtsslalemenl o( this other infomab"Dn, we a￿ reqUI￿d lo report ihal lacl. We have nothing lo report In Ihis regard. Oplnlons on othw mattws pr•scrib•d by th• C¢)mpanles Act 2006 In our opinion, based on thè work ur￿ert2k￿rh in thè ¢ourse ol the audit the infom)alion given in the Trustees. ReF4)rt for the ffinancial year for which Ihe finanaal statements are prepa￿d is consistent with the finanaal statements., and tho Trusteès, Report has been prepared in accordancè with applicaNe legal raquirem￿t$. Mattttrs on whl¢h w• are r*qulred lo report by exoptlon In the light ol Ihe knowledge and understanding of the charitable ￿)MPanY and its environment oblained in the course of the audit, we have not identified material misstatements in Ihe Trustees, Rerrty1. We have nothing to ￿ port in resped of fv f￿1(￿1￿9 matters Whe￿ the Companies Act 2006 requires us to report to you il, in OLJr opinion.. adequate accounting records have nol been kept or retvms adequate for our audit ￿ve not been received from branches not visited by us., or the linanaal statements are tM)t in agreemenl wth the accounting r￿ordS and retums.. or cthain disclosures ol trustetts, remuneration speufied by law are ncl made-. we have received all the information and expkrbatir￿S we wuiie for our audil. Pag& 15 Repthl of the Independent Audliors lo the MeM￿rS of Agè Cymtu Responslbllltles of trustees As explained more fully in th6 Stalement of Trustees, Responsibilities. the tfttstees Iwho are also the directors of the charitablè company for th8 purpL)s&s of company lawl ara reswnsitA& for the p*parats"oTh of thè financial slatèmènts and for baing satisfièd that Ihey giv$ a tm¢ and fair vi¢w, and for suth intemal control as th& tnJst8ès detemine 1$ ng¢essary to gnablg the preparation of finanGial ststements Ihal are free from material MisstrtemenL whether due to fraud or error. In preparing the financial stateffEnts, the trustees are res￿nsIble lor assessing the charitable companys ability to ccM)tinue as a going concern, disclosing, as applicable, matters related to %X)ing concem and using the going concern basis of accounting unless the tiust¢es either intend to liquidate the charilable company or to ¢easÈ i¥)etatK)ns, or have no iealisti¢ aYL¢inativ¢ but to do su. Our re5por15ibilities for the audit of the finarKial statements Our objectives are to obtain reasonable assuran￿ aboul whether the financial statements as a whole are free Irom material misslatemÈnt, whether (JUÈ to fraud or error. and to issue a Report ol the Independent Auditors that includes our opinion. Reasonable assuiance is a high level of assurance. tmrt is rK)t a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a matetial misstatement when rt exists_ Mi5Staternents Gqn arise frotn fiaud or error and are considered tnaterial if, individu8lly or in the aggregats. they could reasonably be expected to influence the economic deci510T15 of users taken on the basis of these financial statements. The exient to which our pr(￿lureS are (wable of deteding Irregukrib"es. induding fraLKJ is detailed below.. Our planning procedures identify the legal arnl regulatory frameworks applKaLle to the operations and financial statements of the company. These are reviewed internally wth the audit tearn indudirKJ relevant industry eXperier￿e and expectations as well as extemally with the client management. The key laws aThJ regulakn.ons considered in Ihts Context were Charities SORP IFRS 102 'AccDunting and Reporting by Charities.. Statement of RecoTmended Practice applicable lo charilie5 Pteparing Iheir accounts in accordance with the Financial Reporting Standard Applicable in the UK arhd Republic of Iieland.. UK GAAP IFRS 1021 and relevant tax legislation. Once identified, we a￿sS the rtsks ol malenal mi55talements in relabtin to the laws ar￿ regulations, i[￿gUlarIties, ncluding fraud and adjust our testing accordingly. Our audit proKeikJres ind￿le.. Di5CUSSltbg wth Trustees and management which areas of the business th8y belie￿ to ￿ [￿re sus(wts"blÉ to fraud. awvj whether they have any knowledge or suspioon of fraLKlulent aclivilies." Obiaining an understanding ol ihe key controls pul in pl￿ by 1he company to address risks identified, Assessiw the effectiveness of tI￿se and discus&ng how tt)ese are wnaintained and monrtored intemally. Asse5SlW the risk ol tnanagement overtide and re￿eW atKI tesh.tu of i(xJttb31 entries tnède Into the accx)unting *• system", Ch8llÈniino assumptions and judgemÈniS rnade by Ihe (x)mp8ny in relation to the sonifieant 3e(x)unting eslimales employed In Ihe preparaticn of the financial s￿leMen1s- DtscussiThJ wlh Trustees and Managemenl the legal aThJ reguLalory oblTrgats"ons ol the business and whether they have any knowledge or Susplu￿ ol non com￿lan￿. Despitè the audit bèing planned and condueted in accordance wth ISAS IUKI thèrè rèmains an unavoidable risk that matérial misststÉments in thè fiThan¢ial statements rnay not be dete-led owiNg to inherènt lirnitabons of the èudil, and that by their very nalure, any such instan￿$ ol fraud or Irwularilies likely involve o￿luSion. Icwgery. inleniional misrweseniation, or Ihe override ol intemal contrds. A fLirthèr dèscription of our rèsrK>nsibilitiés lor th6 audit ol ttrè finan(ial statamènts is I￿at&d on Iha Financial Repcwting Council's websile ai w¥wi.fr¢.org.uklaudiiorsresponsibililies. This dwiptiw f(￿$ part of our Report of th& Ind6p&ndent Audiiors. Use of our report This report is madè solaly to the charitablè company's members. as a i)thYy, in accordancè wth Chapter 3 01 Part 16 of thè Companiès Act 2006. Our audit work has beèn und6rtak8n so that wè might statè to thè charilablè company's mèmbèrs thosè matter5 we are 18quirgd to Stale to th9ffl in an auditors. rep(xt arKI for no other purtx)sg. To the fullest extent poimitted by law, w& do Th)t accept or assume resF¥)nsibility to anyone other ihan the thartable cornpany and the charitable cc#npany's members as a body, for our audit work. for this reFKrt or for the oiynions we have formed. Victr*ia Carter ISenK)r Ststutrmy Auditor) for and on behalf C>f Menzies LLP. Statulory Auditors 5th Flo￿ Hodge House 114-116 St Mary Street Cardiff CF10 10Y 2 December 2025 Pag& 16 Age Cymru Statèmèrtt of Fifianelal Actlvltlès {In￿rporating an Income and E¥pendityre A¢¢ountl for Ihe Year Ended 31 March 2025 2025 Total lund$ 2024 Total fund$ llnrestri￿0d funts Rostrlet¢d funds Incomè and endowmants from Donations and legacies 571.031 571.031 74,104 Charitable activities Cure acUviLi85 353.372 1.844.385 2,197,757 2.334,250 Invèstment income Total 9,863 934,266 9,863 2,T18,651 16,C128 2,424,382 1.844.385 Expenditulf Charltable actlvltl•s Cora activities 935.53T 2,820,462 2 617,348 N8t gainslllosses) on investmenls NET INCOMEIIEXPENDITUREI Transfers bthèèn funds Net movement in funds 11,2711 40.540 141.8111 (40,5401 40.540 141,8111 1218,r)701 18 141,8111 1218,D701 Re¢on¢iliation of fun(15 Total funds brought foNard 1.357,750 1.357.750 1,575,820 Total funds carri•d fopward 1315.939 1.315.939 1 357 750 The notes fomi part of these financial statements Pag& 17 Age Cynwu (Reglslered n￿nber. 068372841 Balancè ShÈÈt 31 March 2025 2025 Total fvnd$ 2024 Totsl funds Unr•strictod funds Rèstrlet•d fund$ Flxed assets Tangible assets Investments 12 13 13,070 13,070 21,006 13.072 13,072 21,008 Current assets Debtors Cash at bank 14 714.461 886.670 1.fJ)1.131 714.461 888.670 1.£01.131 912,388 578 738 1.491.126 Creditors Atnount5 falling due wthin one year 1S 1286,6241 1286,6241 1142,7441 Net ¢urr¢nt assets 1.314.507 1,314,507 1,348,382 Total a$set$ less current liabillies 1.327,579 1.327.579 1,369,390 Provlslons lor Ilabllltles 17 111,6401 111,6401 111,6401 NET ASSETS Funds Unrestricted ftjnds Total funds 1,315,939 1,315,939 1,357,750 18 1 315939 1 315939 1 357.750 1 357.750 The financlal statements were approved by Ihe Board of Trustees and aulhorised for issue on 1 December 2025 aThJ were swaned on its behalf by-. J Williams - Trusts The notes fomi part of these financial statements Pag& 18 Age Cymru Cash Flow Statèm•nt for the Year Ended 31 March 2025 2025 2024 Notès Cash fl¢)w$ from 9￿ratIng a¢¢lvttle Cash generated from operatlons Net cash provided byllused in} operating aclmtbes 298.￿9 298.069 803 3T81 803 3781 Cash flows from Investing activitles Purchase of langible fixed assets Interest received Net cash provided byllused in) invesbng actiwknes 125,9501 16,028 9.863 9.863 Change In rAsh and ¢a$h equlvalents in the reporting period cash and ¢ash equlvalenis at the beginning of the reporting period Cash and cash •qulval•nts at Ihè •nd the reporting perlod 307.932 1813,3001 578,738 1.392.038 886.870 578,738 The notes fomi part of these financial statements Pag& 19 Age Cymru Notès to t￿ Cash Flew Statèmènt for the Year Ended 31 Mar¢h 2025 R•conclllatlon of not •xpondltur• to nèt cash flow from ofvwatlng ac￿¥￿10eS 2025 2024 Net expenditure for the reporting period las per the Statement of Financlal Activltl85) Adjustments for: Depreciation charges Interest received Dècrèasellinerèasel in debtors Increaselldecreasel in creditors Net cash provided byllused inl operations 141,8111 1218.0701 7.93$ 19.8631 197,927 143.881 298.D69 6,620 116,0281 1508,7911 6T. 1091 803,3781 Analysis of changes in net furK15 At 1.4.24 Cash flow At 31.3.25 Net cash Cash at barbk 578.738 578,738 307,932 3C17,932 307 932 886,610 886,670 886 610 Total The notes fomi part of these financial statements Pagè 20 Age Cymru Notès to thè Finandal Statèmènts for the Year Ended 31 March 2025 Accountlng pollcl•s Ba$1$ ol prèparlny th• ffinaneial s1atèm￿ts The finanGial statements ol the charilable company. whith is a public benefit enlily under FRS 102, have been propared in accordance wllh the Charlues SORP IFRS 1021 'Accouniing and Reponing ty Charltles.. Statement of Recommende Practice applicable to charities preparing t￿1r ￿cO￿ts in accordan￿ wth the Financial Reporting Stsndard applicable in the UK and Republic ol Ireland IFRS 1021 (effective 1 January 20191,. Financial Reporting Standard 102 'The Fin8ncial Reporting Stsndard appkable in the UK and Republic of I￿land. and the Companies Ad 2006. The financial ststements have been prepared under the hKstorical cost wnveitK)n. with the excepb.on of investrnents which are included at rnarket value. Going cone•m The Tiustees havè assessed the Chartws abilty to conb.nue as a wng concem. In Mak1￿ this assessment the Trustees have consKlered several factors ￿en fottTMllg their conduSTr(￿S indudin9 a rewew of updated forecasts to 31 March 2025 and a consideration of key risks. The cost of living crisis has W a signfficant impact on Ihe Charity's )perations but careful management of Its finances enabled rft to grow free reserves in the year The Charty 15 furded thiough unre51ricted and restricted incotne frown lundets from a variety of source5, including stalLrtory bodTre5. trusts and fiMJrdatK)ns. corporates and individuals Age UK also provides an unrestricted grant each year. There ts ro irvpact on Ihe goin9 ￿n￿rn regarding the Charity lesving the Age UK Group on 1 April 2023. The Trustees prepare annual budgets and forecasts in order to enEure there is adequate funding in place to deliver Charitable activities for the coTning year. Fotecast5 for a further two years have also been prepared. Regular communication ha5 been maintained with Age UK and donors and the charity has revi8wed planned unrgstrict8d expendilure over the perbjd of rev￿. In their review of the budgets and forecasts. the Trustees havE beerb miidful of the continued risks of costs of living arMJ thp imp8et that the current infiation arKI energy price rise5 wll have 1)n CyThru's operab"on5. Consideration has a150 been giv8n to the increa5eJ demand fLY our serv￿eS lyoughl aiwjut both ihe cost of living crisi5 wh￿h continues to irnpact the lives of elderfy people in Wales. Having ￿￿ew￿l the finanaal FK)Srtion of Cymm the trust&s condude thal the going concem basis of thE aceounls. preparats.on is appropriate. Income All Incoming ￿sOUrceS a￿ induded in the Statemen= of Finanaal Activrt*s ISOFAI when the Charity is legally entitled, the receipt Is probable and the amount is measural￿t. The specffjic wlicies apply to categories ol incoffÉ". Donations and 811 other re¢eipts generated from fundfjising are reported gross on a re¢eiv8ble b8SiS. Granls receivable income. where related to perfomHnce and speafic deliverables, Is accounled for as Ihe Charity èarns the right to consideration by its perfomiancè. Where incomè is receNed in advance ol perfornwnce. Its rècogniliDn is d6fÉrrad and inelud8d in crèditors. Wh8re enmèmènt ocLurs bèfc*è in(x)m8 is recaivad, tha incimna ts accruad. Legaaes are accounted for as income On￿ the receipt of Ihe legacy becoms probable and quantifiable and entitlement crileria aro estsblished. For pecuniary legacies this will generally be at the point probate is granted. For residuary legaaes this will gèneraly be when a copy ol thè will and an Assets and Liabiliti&s Statement has baen r8caiv8d from the executor nd probatè has bèèn grant￿. expendlture All expenditure is acco￿ted for on an accruals basis and has b8en dassified under headings that aggr8gatè all costs ralaled to that catègory. Wher8 costs CAnnot be directy attribut8d to particular hèadiros thay hava beèn allocalad tc) aclivitEs on a basis consislenl wth use ol res(MJrces. Grants payable are charged in the perK)d when the offer is conveyed to the rerypient ex￿pt in cases where the offer is conditional, such grants being recognised as expenditure when Ihe c￿ditIOnS are fulfilled. Offers subj'ect to conditions which have not been met at the period-end are rK)ted as a commrtment. but not accrued as expendilure. Support costs are allocated to different aLtiwty categories based on a judgement of the percentage the specific activity represenls in relation to the total non-support expenditure. SuJport costs include management, finance, human resourTrs, infonnation technology atml some elemenls of fuThJraising. Govemance costs other than those disdosed specifically in the notes lo these acccxjnts are included within supp(Ml costs and allocated on the same basis. Page 21 continLJ8d... Age Cymru Notès to thè Finaneial Statémènts- eontintsgd for the Year Ended 31 March 2025 Accountlng pollcl•s- cOn￿nU&d Ex￿ndIt￿r￿ Grants offered subjed to Condits"<￿ whith have not been met al the year end dale are noted a8 a commilmenl but not accrued as expendlture. Tanglbl• fix￿ assèts Depreciation is provided at the fdlmng annual rates in (xder to ￿lte off ead) asset over its estimated uselLJI Ilfe. R•latèd party ox•mption The charitable company has taken advantsge of exempl￿. under temis of Financial RèKx)rting Standard 102 'Th Financial Repotting SlarKlaid applKable in Ihe UK RepuNic of IieLind'. not to disclose related party transactions with wholly owned subsidiarie5 within the group. Taxatlon The charity is exernpt from cotw)ratK)n lax on rt5 chaiitatAe activth"es. Fund accounting Unrestricted lunds can be used in acLordartt with charilable rtiectwes at Ihe discreth)n ol the trustees. Re51ricted funds can only be used lot Parti￿L￿r restrKAed purpjses wthin the obFCts of the charity. Re5tnction5 aii5e when 5pecrfied by the donor 01 when funds are ra.5ed for partiCU￿r ie5tricted purposes. Further explanatN)n of the nature and pur[￿ of eath fund is Y￿lL*Jed in the notes to the finar￿la1 statements. Pension costs and oiher post-retirement beneffts The Charity contributes to a group Pe￿onal pen510n plan operated by Zurith as well as an oeojpational mon8y purthas8 scherne. A pension plan is available to all employees over Ihe age of 18. The assets of the scherne are held sepaiately from those ol ￿ Charity. The annual contributty)n payments a￿ charged to the SOFA. A defined benefit plan is a wst*Thployment benefit plan othLY than a defined contribub.on plan. The entity's net obligAlion in respect of defined benefii plans larKI other k)ng tetm ernplolee benefjtsl is c81cul8led by estim81ing the amount of fvture nefils that employÉes havè eamed in reiurn f(K their service in the CLJrrent And pritir peri(xJs", that bènefit 15 disctsuntèd tc) delem)ine ils presenl value. The lair value ol any plan assets is deducied. The entity delemines Ihe net inleresl expense lincomel on the nel defined benefit liability lor the perityj by applying the discount ote as detemned al the beginning ol the amual period to the nel defined benefit lialM"Iity tthing ac￿nt ol changes arising as a Esult ol contributions and benefil paymènts. The discount rale is the yield al Ihe balance sheet dale on M credii raled bonds ¢Jenominaled in the currency ol and having maturity dates approximating to the lemis ol the enb.ly s oblKJalions. A valualion Is perfom)ed annually by a qualrfied acluary using proiect8d unit credit mèthod. The tnts.ty recognises nèt defined benefit plan assèts to the èxlenl that it is ablè to rècover thè surplus *ith8f thr(MJgh radU￿d rthtn"bulions in thè future or fv(xJgh r6furKls from thè plan. Changes in Ihe nel defined benefrt liability arising from employee service rendered during the period, net interesl on net defined benefit liability, and the cost of plan introductions. ber.efit changes, curtailments and settlements during Ihe ￿rIOd arè ra￿gnIs&d in profrt or loss. Remeasuremonl of Ihg nel doffin￿ bgn8ft liabiltylassat is rwJnised in oth* ¢ompreh¥nsiv8 in¢ome in the period In which it occurs. Flnanclal Instrum•nts Age Cymru has financial assets finan(ial liabilrfie$ ol a kind that qualfy as basic finarnual instwments. Basic financial in5trvments are initially recogniwj at transaction value and subsequently measured at the present value of ftrtvre Gash flows lamrtised costl. Financial assets k.eld at amortised cost comprise cash at bank and in hand, short teim cash deposits and the charity's debtors exduding prepayn*nls. Financial liabilities held at amortised cost comprise the charity's short and k)NJ temi cteditors exduding deferred in¢ome and taxation payable. No discouwrting has Jeen apFlied to th2se financial irhstrurnents on the basis that the peiiod5 over wh￿h amounts will be settled are such that any discwntiryJ would be iwmatenal. Page 22 continLJ8d... Age Cymru Notès to thè Finaneial Statémènts- eontintsgd for the Year Ended 31 March 2025 Donatlons and l•gacl•s 2025 2024 Donat￿n5 Legades 40.385 530.646 571 031 48,103 Invèstmènt Incomè 2025 2024 Interest Income Incorne from charltable actlvltks 2025 2024 Other Grants Core aciivitses Cor¢ activiti.es 7,714 2.190043 2.197.T57 59,764 2,274.486 2 334 250 Grants recèlved. Indudèd In Ihe above. arè as folkyws: 2025 2024 Othgr 2 274 486 Charltable a￿l¥ll1e$ ¢osts Grant fundlng of activitles Isee note Support costs Isee notg 71 Dlrecl Cost$ Totals Core activibes 235 383 2 820 482 Grants payabl• 2025 2024 Core activities 235 383 178.002 SuppLYI c05t5 Govèmancè costs Othèr Total$ Core acbwlies 13950 Page 23 continLJ8d... Age Cymru Notès to thè Finaneial Statémènts- eontintsgd for the Year Ended 31 March 2025 N•t Incomollèxpondltur•l Nel inwtn¢I{e￿ndIlUreI is stat￿1 after thargingll¢reditingl.' 2025 2024 Depreciation - owneil assets Tru￿••8. r•munoratlon and b•n•fllS There were no trustees. remunerabon or other beneffjts for the year en(knJ 31 Marth 202$ nor for the year ended 31 March 2024. Tru$t885' expenses 2025 2024 Trustees, expenses 10. staff Costs 2025 2024 Wages and salaries Social $e¢urity costs Other pension costs 1,671,794 154.D94 2D7.965 2 033 853 1.605.595 149.594 185.043 1 940 232 Key Management Personnel are defined as the CEO and the Management Team. There were 5 individuals included within this Gqtegory and their key Mana9etr￿nt remunerati￿ was 319.19212024: £308.946}. The average monthty number of em￿OyeeS during ts year was as fdlD+VS.' 2025 57 2024 61 Aver8ge number of eM￿0ye88 The number of employees wlTh)se employee benefrts lexduding employer pension o)stsl exceeded £80,000 was.. 2025 2024 £70,001 - £80.(K)O 11. Comparatives lor th8 statement of financial aclivitses Unrestricted funds Restricted funds Totsl funds Incom• and •ndowm&nts from Donatiorhs and legacie5 74.104 74,104 Charitabl8 activities Core activities 4Q2.410 1.931.840 2,334,250 Investrnent incomp Total 16,028 492.542 16,028 2,424,382 1.931.840 Exp•ndbtur• on Charftable actlvltles Cwe activities 688.271 1.929.Q77 2 S17.348 Page 24 continLJ8d... Age Cymru Notès to thè Finaneial Statémènts- eontintsgd for the Year Ended 31 Mar¢h 2025 11. Comparatlv•s for tho sLit•m•nt of Ilnanclal actlvltl•s- conllnu•d Unr•strlct nd$ R•strlctèd fvnd$ Total fvnds N&t gainslllossesl on investments NET INCOMEIIEXPENDITUREI Transfers between funds Net movemeni in fun(Is 1220.8331 3,327 1217.5061 2,763 3,327 15541 1218,Q701 1218,0701 Rèconcillatlon of funds Total funds brou9ht forwar 1.575.256 564 1,575,820 Toial lunds carrl•f th& maxirnum lax f￿e cash available at retirement 3.70% 2.05% 100% of S3PMA basè iables for males and 100° of S3PFA M base iables lor females projected by year ol birth assuming futurè improvements in line with CMI 2022 proieclDns Iwilh parameters Sk- 7.0, A- 0.25WD, w20201w2021 - 0% and w2022= 25%) and a long-term improvanenl raie of 1.25°k p. Post r8tirsm8nt mortality Mèmbèrs ar8 assumd to tske 70Qkn of the tnaximum tax free cash available at rètirement Cash commutation l /D of members takirKJ maximum cash on current factors) Llfe expèetandos and 8alane• Sh8•t Oalè fvlale at age 65 Fetnak at age 65 Male at age 45 Fema￿ at age 45 21.7 23.7 21.7 25.1 25.1 the avoIdar￿e of doubt the above assumptK>ns are in absdule tems. For the assumpt¥)ns which apply lo pens￿$ in payment, alloWan￿S tor any minimum increases have been made using the Black Scholes oplk)n priung model. Assèt l>r•akdown Page 28 continLJ8d... Age Cymru Notès to thè Finaneial Statémènts- eontintsgd for the Year Ended 31 March 2025 19. Employ•• bènofft obllgatlons- contlnued Th¢ major ¢alewos of schèmè assets as a per¢entag& of totsl s(tsmo awts arg 31 March 2025 9.7% 0.0% fj9.9% 14.5% 5.9% 11JO.O% 31 March 2024 14.5¥. 4.9°1ty 637% 13.4/0 3.5°k 100.0% Equits"es Diversified gffjb*th fund MalGhing assetslbond5 Infrastructure Cash Total 31 March 2025 31 March 2024 Equlttes Diveisthed growth fund Matching assetsfDorKIs Infrsstructure Cash Total 93 146 674 140 57 643 135 35 1.009 The pension 5them8 has not invested in of the Age UIC5 own financi41 statements. nor irb properties or other a55etS l￿e￿ by Age UK. The assets are all quotes in an active tnarkel. Net defined benefit asset (liabilty 31 March 2025 31 March 2024 Fair value of schem8 assets Presèni value ol defined bènèfit obligations Funded status Paragraph 28.22 surplus reslrictK)n Defined benefit assetllli&)ility} recognised in balance sheet 963 833 130 I1￿) 1,009 954 55 1551 Total expense o¢ognis¢d in Pr¢frt and Loss a¢¢ount 31 March 2025 31 March 2024 Currènt sèrvicè ctsst Administration 8xpenses Past service costs including curtailments Effect of settlements R•cognls•d In arrlvlng at opèratlng profft Intèrèst on thè nat d8fin8d bènèfit liability Tolal re¢ognised In thg Profit and Lo$$ a¢¢ount Total amounts takèn to Other Comprehenslvè Incom• 31 Mèrch 2025 31 March 2024 Adual return on sGheme a5sets- ￿1￿$ and {lossesl less.. interest income on scheme assets Remeasurement gains and IlosseskR&tum on scheme assets excluding interest income Rttmttasurement gains and Ilossesl Paragraph 28.25lcl surplus restridion Remeasurement gainlllossl recognisBO in Other Comprèhènsivè Ineomt 1181 1461 26 1451 1641 119 1751 181 1201 1201 Chang•s to th• present valu• ol the dofined b•nefit obligation 31 March 2025 31 March 2024 Page 29 continLJ8d... Age Cymru Notès to thè Finaneial Statémènts- eontintsgd for the Year Ended 31 March 2025 19. Employ•• bènofft obllgatlons- contlnued Present value gf dgfined benefit obligatiw at i*srynnlng of perlod Benefits paid including eKpenses Currenl service cosls Administration cosls Interest costs Reffleasurement Igainsl and losse5 Employee contributions Past Servi￿ costs including curtailments Disposalslacquisitions Effect of settlernents Prèsant value of d•fined benefit obligation at ènd of ￿rIOd 954 1531 1501 45 833 9S4 Changes to the fair Value of scheme assets during the ye 31 March 2025 31 March 2024 Fair value of scheme assets at Winning ol pemd Interest income Remeasuremellt gains and Ilossesl Contributions by the Employer Employee contributions Disposalslatrquisitions Berbefrts paid including expense5 Fair value of scheme assets at end of period 1.009 1.008 45 1191 25 1641 25 1531 963 1501 1.OQ9 20. Related party dlsclosuRs There were no related p8rty traW{￿on$ for the ye8r ende(131 March 2025. Pag& 30 This document was delivered using electronic communications and authenticated in accordance with the registrar's rules relating to electronic forni, authentication and manner of delivery under section 1072 of the Companies Act 2006.